The Manitoba government released a report during the summer that surprised many Manitobans, especially when the country was going through inflation and Manitoba was in the highest three as of inflation rate. The Manitoba government released during mid-summer that the minimum wage in Manitoba will rise to fourteen dollars/hour by April 2023.
Moreover, many economics and statistics have predicted that the increase in minimum wage will increase inflation even more, “According to economism, a pair of supply and demand curves proves that a minimum wage increases unemployment and hurts exactly the low-wage workers it is supposed to help.” said Alfred Mill, author of Personal Finance 101, Economics 101, and Social Security 101, in his book Economics 101 “…the increase in the minimum wage has no effect..in the end, the policy meant to help the poor helped those who maintained their jobs.”
Furthermore, Reg Helwer, Labour Minister of Manitoba, said in the news release that “This increase to the minimum wage would assist lower-income Manitobans in dealing with the current economic realities as appropriate and necessary; we will continue to tie the wage to economic indicators, and in this way maintain purchasing power, stability and predictability for employers.” he also mentioned “This phased-in approach to raising the minimum wage would help relieve some of the economic pressures on Manitoba workers while lessening the impact on small businesses bottom lines as much as possible,”
Manitobans should hope for the best and foresee an improvement in Manitobans’ financial stability and Manitoba’s economy. After observing the “Consumer Price Index (CPI)” and many other essential details, the government made this decision and released the Bill. Manitoba is entering a new phase and is taking a big step to hopefully a brighter future.
Sources:
– Halla Alhamed, U Multicultural
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of U Multicultural.
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