Minimum wage should be rising dramatically, but I want to add here, that a labour shortage should naturally see the private sector growing wages faster than the law mandates. We've seen this in large part of the U.S. where employers in the discount department store industry in particular have moved to national minimum wages of $14USD and average wages of $17.50USD per hour (which yes, still sucks) but is far in excess of the U.S. Federal minimum wage of $7.25USD and that of many U.S. states.
They are raising wages to attract and retain labour as they should.
That said, I will throw out a few U.S. peer (to Toronto) minimum wages:
San Francisco (as at July 1st 2023) $18.07USD/ $24.67CAD per hour
Seattle $18.69USD / $25.52 CAD per hour
New York City * $15USD / $20.48CAD per hour
* an increase to $17USD by 2026 has been negotiated as part of New York State's budget bill ($23.21 CAD)
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The other thing I would add is how we're slipping on paid vacation norms vs the world. Its not just Europe or even Australia where the bare minimum is 4 weeks by law and often more.
Mexico just increased its statutory minimum vacations to a number higher than any province except Sask. (where 3 weeks is the minimum.
View attachment 473036
from:
https://www.gtlaw.com/en/insights/2...aprueba-el-incremento-de-los-dias-de-descanso
Quality of life matters. But lets add, two neat tricks of increasing paid vacation. In almost all cases (up to a reasonable number) such increases have been shown to actually increase productivity more than enough
to offset any additional labour costs. Well rested employees simply have higher per hour output! Second, assuming most employees didn't see a reduction in workload with additional vacation, you would automatically show a per hour productivity gain.
One additional week of paid vacation, all other things being equal is a 2% increase the cost of labour (though in reality, for a salaried employee there is not automatic increase in cost)
A 2% boost in productivity is not hard to achieve, in most jobs.