Ontario's minimum wage is set to rise to $17.95 an hour on Oct. 1.
The province boosts the wage annually based on the Ontario Consumer Price Index, a measure of inflation.
The current minimum wage is $17.60.
The government says someone earning minimum wage and working 40 hours per week will see an additional $728 per year.
"This is a balanced approach that supports workers’ earning power and helps keep Ontario competitive in a time of global economic uncertainty," reads a news release from Ontario's Ministry of Labour.
The province said the increase will support over 700,000 workers in Ontario. About 35 per cent of minimum wage workers are in retail trade, the release said.
Labour Minister David Piccini says the increase will leave Ontario with one of the highest minimum wage rates in the country.
“Ontario workers are the engine of this province,” he said.
The Ontario Living Wage Network says a living wage in the Greater Toronto Area is $27.20.