Ontario’s independent fiscal watchdog says that raising Ontario’s minimum wage will cost 50,000 jobs, stripping away 0.7 per cent of Ontario’s workforce.
A new report from the Ontario Fiscal Accountability office estimates that Premier Kathleen Wynne’s ideological quest to raise the minimum wage to $15 an hour will cause large-scale job losses to the very people it was designed to help: young people and low-income workers.
The raise would cause a demographic shift:
Right now, the majority of people working for minimum wage are young people. They would be pushed out of the workforce, in favour of older workers, as entry level jobs disappear.
One million Ontarians will find themselves having to start at the bottom again because the Liberals pulled the floor out from under them.