Podcast
Questions and Answers
What does mandatory retirement (MR) typically require of employees?
What does mandatory retirement (MR) typically require of employees?
Which of the following is NOT a mechanism within the IR Systems Framework in relation to mandatory retirement?
Which of the following is NOT a mechanism within the IR Systems Framework in relation to mandatory retirement?
In the context of mandatory retirement, what could be considered an external actor?
In the context of mandatory retirement, what could be considered an external actor?
How are goals and values relevant to mandatory retirement in the IR Systems Framework?
How are goals and values relevant to mandatory retirement in the IR Systems Framework?
Signup and view all the answers
Which feedback mechanism is implied to inform both internal and external inputs in the context of mandatory retirement?
Which feedback mechanism is implied to inform both internal and external inputs in the context of mandatory retirement?
Signup and view all the answers
What was the minimum wage in Ontario in February 2005?
What was the minimum wage in Ontario in February 2005?
Signup and view all the answers
How much did the minimum wage increase from 2006 to 2010?
How much did the minimum wage increase from 2006 to 2010?
Signup and view all the answers
Which policy period followed the Conservative Freeze from 1995 to 2002?
Which policy period followed the Conservative Freeze from 1995 to 2002?
Signup and view all the answers
By how much did the minimum wage increase from January 2021 to October 2022?
By how much did the minimum wage increase from January 2021 to October 2022?
Signup and view all the answers
When did the minimum wage in Ontario reach $14.00?
When did the minimum wage in Ontario reach $14.00?
Signup and view all the answers
What was the percentage increase of the minimum wage from 2003 to 2007?
What was the percentage increase of the minimum wage from 2003 to 2007?
Signup and view all the answers
In which year did the minimum wage last increase before reaching $10.25 for the first time?
In which year did the minimum wage last increase before reaching $10.25 for the first time?
Signup and view all the answers
What was the minimum wage in Ontario during March 2009?
What was the minimum wage in Ontario during March 2009?
Signup and view all the answers
What was the minimum wage in Ontario in 2008?
What was the minimum wage in Ontario in 2008?
Signup and view all the answers
What percentage of total earnings in Ontario is accounted for by employees earning minimum wage?
What percentage of total earnings in Ontario is accounted for by employees earning minimum wage?
Signup and view all the answers
How does the general minimum wage in Ontario relate to the average industrial wage?
How does the general minimum wage in Ontario relate to the average industrial wage?
Signup and view all the answers
What was the all-time high for average minimum wages in Canada as of 2018?
What was the all-time high for average minimum wages in Canada as of 2018?
Signup and view all the answers
What does CPI stand for in the context of minimum wage analysis?
What does CPI stand for in the context of minimum wage analysis?
Signup and view all the answers
What percentage of minimum wage workers in Canada are teenagers aged 15 to 19?
What percentage of minimum wage workers in Canada are teenagers aged 15 to 19?
Signup and view all the answers
What proportion of minimum wage workers live with their parents or another family member?
What proportion of minimum wage workers live with their parents or another family member?
Signup and view all the answers
What is the primary intention behind the existence of minimum wages?
What is the primary intention behind the existence of minimum wages?
Signup and view all the answers
What percentage of minimum wage workers are employed part-time?
What percentage of minimum wage workers are employed part-time?
Signup and view all the answers
In a competitive labor market, how does minimum wage affect employment?
In a competitive labor market, how does minimum wage affect employment?
Signup and view all the answers
What does the theory of segmented labour markets suggest about workers?
What does the theory of segmented labour markets suggest about workers?
Signup and view all the answers
What is the predicted long-run effect of a larger labour force on unemployment rates?
What is the predicted long-run effect of a larger labour force on unemployment rates?
Signup and view all the answers
What implications might arise from abolishing mandatory retirement?
What implications might arise from abolishing mandatory retirement?
Signup and view all the answers
Which of the following best describes the relationship between social forces and unionization rates?
Which of the following best describes the relationship between social forces and unionization rates?
Signup and view all the answers
What has been the trend regarding women's participation in the labour force from 1970 to 2006?
What has been the trend regarding women's participation in the labour force from 1970 to 2006?
Signup and view all the answers
Which factor is directly correlated to the aging of the population in terms of labour supply?
Which factor is directly correlated to the aging of the population in terms of labour supply?
Signup and view all the answers
According to economic environment factors, what can significantly influence the demand for labour?
According to economic environment factors, what can significantly influence the demand for labour?
Signup and view all the answers
What may be an outcome of a ban on mandatory retirement in terms of workforce demographics?
What may be an outcome of a ban on mandatory retirement in terms of workforce demographics?
Signup and view all the answers
What role does mediation play in the IR Systems Framework?
What role does mediation play in the IR Systems Framework?
Signup and view all the answers
Which of the following statements about labour force participation is true?
Which of the following statements about labour force participation is true?
Signup and view all the answers
Study Notes
Minimum Wage in Canada
- Canada has a minimum wage in all provinces and territories.
- The average minimum wage in Canada reached a high of 14 CAD/Hour in 2018 and a low of 1 CAD/Hour in 1966.
- Ontario's minimum wage was 40-50% of the average industrial wage.
- 5% of Ontario employees worked at minimum wage, 3% of total hours worked and 1.5% of total earnings.
Minimum Wage in Ontario
- Minimum wage in Ontario increased in most years from 1995 to 2024.
- The 1995 minimum wage is 6.85andthe2024minimumwageis6.85 and the 2024 minimum wage is 6.85andthe2024minimumwageis17.20.
Real Minimum Wage
- The real minimum wage reflects the purchasing power of the minimum wage adjusted by inflation.
- The real minimum wage in 2007 was $7.82.
Ontario Minimum Wage Policy
- Eight distinct policy periods have been implemented since 1995.
- The Conservative government froze minimum wage from 1995 to 2002.
- The Liberal government increased the minimum wage annually from 2003 to 2007.
- From 2007 to 2010, the minimum wage was predetermined.
Mandatory Retirement
- Mandatory retirement refers to the policy of retiring employees at a certain age.
- The policy is controversial and may have implications for pension provisions, lawsuits, competency tests and productivity.
Social Forces
- Social forces influence labor markets and labor relations outcomes.
- Countries with more communitarian norms have higher unionization rates compared to those with individualistic norms.
Economic Environment
- The demand for labor is influenced by the minimum wage, deindustrialization, labor force participation, aging population, women in the workforce and non-standard work.
- The share of women in the workforce rose from 34% in 1970 to 47% in 2006.
- Almost half of minimum wage workers are teenagers.
- Two-thirds of minimum wage workers are under 25 years old.
- Two-thirds of minimum wage workers live with parents or family members.
- 60% of minimum wage workers are part-time.
Rationale for Minimum Wage
- Minimum wage exists to reduce poverty and redistribute income.
- Despite historical economic opposition, there is strong public support for minimum wage.
Minimum Wage in a Competitive Market
- In a competitive labor market, the equilibrium wage (We) determines the level of employment (Le).
- A minimum wage (W*) above We results in a decrease in employment to L2 and an increase in labor supplied to L1.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Related Documents
Description
This quiz covers the history and policies surrounding minimum wage in Canada, with a specific focus on Ontario. Learn about the changes in minimum wage rates over the years and the impact of government policies on wage standards. Test your knowledge of minimum wage statistics and adjustments for inflation.
