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5 Things to Know Today (Oct. 1): Minimum Wage Hike, Cooler U.S. Inflation, Oil Below $100

  Thursday October 1, 2026 A new quarter, a higher minimum wage in Ontario and a softer inflation read south of the border. Here are the five things that matter to your wallet today. 1 Ontario's minimum wage rises to $17.95 today Ontario's general minimum wage climbs 35 cents, from $17.60 to $17.95 an hour, as of October 1 — a roughly 2% bump tied to Ontario's CPI. The student rate goes to $16.90 (from $16.60) and the homeworker rate to $19.70. A full-time worker at 40 hours a week earns about $718 a week before deductions. Federally regulated workers already have an $18.15 floor, which has applied since April 1. What it means for you: If you pay anyone by the hour — a cleaner, a part-time helper, a seasonal worker — hours worked from today forward must be paid at no less than $17.95, even if the pay period started in September. Workers should check their next paycheque. 2 Cooler U.S. inflation eases the pressure on rate hikes The Fed's preferred inflation gauge came i...
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Ontario Unveils Ambitious Economic Update

 

Ontario’s Finance Minister, Peter Bethlenfalvy, is set to present the province’s fall economic statement today, which Premier Doug Ford describes as an ambitious plan aimed at building highways, hospitals, and homes. The update, often referred to as a mini-budget, will include several key measures designed to address affordability and infrastructure needs.

One of the headline announcements is a $200 rebate cheque for nearly every adult in the province, with an additional $200 for each child. This move, which has been met with both praise and criticism, is part of a broader strategy to provide immediate financial relief to Ontarians. Critics, however, have labeled it a “gimmick” and a “bribe” ahead of a potential early election in 2025.

The economic update will also extend the 5.7-cent gas tax cut through to June 2025, a measure that has been renewed bi-annually since July 2022. Additionally, the government plans to invest $225 million to break the Beer Store’s alcohol sales rights, allowing more corner stores and grocery outlets to sell alcohol.

Premier Ford emphasized that the economic update maintains the government’s path to balance, with the spring budget projecting deficits until 2026-27. The update is expected to provide clarity on the province’s debt, the cost of various government programs, and the overall economic outlook.

As the province navigates through these economic changes, the government’s focus remains on enhancing infrastructure and providing financial support to its residents.


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