58470
50678
56468
S&P/TSX
16323.71
+98.06
(0.60%)
S&P-CDNX
678.01
+4.84
(0.72%)
S&P-500
2850.13
+9.44
(0.33%)
NASDAQ
1215.85
-8.21
(-0.67%)
Dow
25669.32
+110.59
(0.43%)
Dollar
0.766
+0.006
(+0.727%)
Oil
65.21
0.00
(0.00%)
Gold
1191.80
+7.80
(+0.66%)
Silver
14.775
+0.062
(+0.42%)


Min wage up, p/t jobs down

Ontario shed 59,300 part-time jobs in January as the province implemented a $2.40 cent minimum wage hike at the start of the month.

Statistics Canada says the province shed 50,800 jobs total from December 2017, gaining 8,500 full-time positions but losing 59,300 part-time gigs.

That's 46,100 fewer people in part-time posts in January 2018 than the same time the previous year — a 3.4 per cent drop.

The province hiked minimum wage by some 20 per cent to $14 per hour at the beginning of the year, a move some economists said could result in mass job losses as employers look to reduce costs.

The Conference Board of Canada's chief economist Craig Alexander said in a note that while some may speculate the provincial employment drop could be related to the new minimum wage, there is a lot of volatility in job numbers and time will tell to what extent the two are correlated.



More Business News

57435
Data from CryptoCompare
Recent Trending
54067
Okanagan Oldies
57642
Castanet Proud Member of RTNDA Canada
54170
Press Room
59064