Minimum wage keeping up with Island’s growing economy
Prince Edward Island’s minimum wage will remain the highest in Atlantic Canada when it increases by 30 cents to $11.55 per hour on April 1, 2018.“Given Prince Edward Island’s economic growth, it is very important that all Islanders benefit from improved economic conditions,” said Workforce and Advanced Learning Minister Sonny Gallant. “Being a small province helps us work well together and be nimble enough to focus on what matters most. As the GDP expands, increasing the minimum wage means more money goes back into the economy and into the pockets of Islanders.”
The Employment Standards Board – which reviews the minimum wage rate each year – recommended the minimum wage increase based on economic factors in the province and on input received from the public. The board gathered input from 15 organizations and 12 individuals during consultations this past summer. Prince Edward Island is Canada’s only jurisdiction to show continuous economic growth since 2008. The province leads the Atlantic region in population growth. In addition:
- gross-domestic product increased 2.3 per cent last year;
- housing starts year-to-date are up by 20 per cent over the previous year;
- export growth leads the Atlantic region and ranked third in Canada in 2016;
- manufacturing sales growth exceeds the national average and has led Canada over the past five years;
- international exports are up by 7.1 per cent;
- employment growth is double the national average; and
- 2,500 more Islanders are working full time compared to this time last year.
Source: Government of Prince Edward Island