Freeze Minimum Wages, Business Group Says
Filed under: Employment & Careers, Entrepreneurship, Small Business
Increases to the minimum wage in Canada hurt the very people they are supposed to help, according to a new report by the Canadian Federation of Independent Business (CFIB), an association for small to medium-sized businesses.The group argues that provincially regulated increases to minimum wages cause small businesses to either cut jobs, reduce staff hours or postpone new hires. Using their own estimates, they say a 10% increase in minimum wages against all provinces would cost the Canadian economy up to 321,300 jobs.
"At a time when the economy is in slow recovery, the last thing governments should be considering are policies that further hinder job creation," said Marilyn Braun-Pollon, CFIB's Vice President for Saskatchewan and co-author of the report.
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