Effective October 1, 2023, Saskatchewan will raise its minimum wage to $14 an hour, the province announced earlier this year. The move is part of a broader two-year plan to incrementally boost the minimum wage, as detailed by the Government of Saskatchewan in May 2022.
The increase marks a dramatic shift in wages over the past 16 years. In 2007, the minimum wage in Saskatchewan was $7.95. By 2024, it is expected to have risen by nearly 89 per cent.
“Saskatchewan has a strong, growing economy and increasing the minimum wage is just one of many mechanisms used to take care of Saskatchewan workers and create more prosperity for everyone,” said Don McMorris, the province’s Labour Relations and Workplace Safety Minister.
In addition to raising the minimum wage, Saskatchewan has enacted various other financial supports for its low-income residents. Among these are the basic personal tax exemption, the child tax credit, and the Saskatchewan Low-Income Tax Credit.
The province has also emphasized its relatively low personal income taxes, with tax exemptions that have removed over 112,000 people from the income tax roll since 2007. These measures have collectively resulted in more than $760 million in annual income tax savings for the people of Saskatchewan.
The changes come as the province seeks to balance economic growth with social welfare, aiming to provide more financial stability for its low-wage workers while continuing to stimulate the economy.