Economists say it's too early to blame the minimum, wage hike. Sectors where minimum wage is the norm did not suffer significant jobs loss in Ontario (just 2k). These job losses were all part-time. Typically, minimum wage hikes cause full-time jobs to vanish as part-timers are cheaper to employ, and can have their hours cut without significant implications. That was not the case here.
Like the US, Canada is experiencing wage pressures which are affecting business and interest rates. Those pressures are predominantly from people making more than minimum wage. This is part of the reason why the US stock market has plunged of late.
It's not that raising the minimum wage can't affect things. It is, however, too early to make that assumption, let alone make that conclusion.
Yes the numbers are not out yet and it will be hard to prove. I am just going by talking to local small business owners to project what is going on. Wonder how much of job loss is from the big chains like Sears. Funny thing is in this seeming poor retail environment I observer Petsmart opening more stores in GTA.
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