In what is being lauded as the first and only independent economic impact analysis of Bill 148, the Fair Workplaces Better Jobs Act, conducted by the Canadian Centre for Economic Analysis, the study reveals that if the legislation is implemented as currently drafted, there will be significant, sudden and sizable uncertainty for Ontario jobs, economy and communities.
The Keep Ontario Working Coalition, which includes groups such as the Ontario Chamber of Commerce and the Retail Council of Canada, released the study which concludes that these vast, unprecedented reforms will put about 185,000 jobs at risk in the first two years, greatly impacting Ontario’s most vulnerable workers.
The proposed legislation would, among other things, raise the minimum wage to $15 an hour, require equal pay for part-time workers and expand personal emergency leave. The bill would boost the minimum wage, which is currently set to rise with inflation from $11.40 an hour to $11.60 in October, up to $14 on Jan. 1, 2018, and $15 the following year.
According to the study, the cost of everyday consumer goods and services will go up by $1,300 per household on average each and every year.