SASKATOON -- Saskatchewan's minimum wage will increase to $11.45 an hour in October.

The province's minimum hourly wage sits at $11.32, the increase of 13 cents an hour will add up to an extra $5.20 over a 40-hour workweek.

Saskatchewan's minimum wage increase is based on an indexation formula that takes into account shifts in the consumer price index and Saskatchewan's average hourly wage, the provincial government said in a news release.

“We have established sustainable and predictable minimum wage increases,” Don Morgan, the province's labour minister, said in the release.

“This helps families plan ahead and creates an environment for new workers to enter the workforce," Morgan said.

Saskatchewan currently has the lowest minimum wage of any province or territory.

Neighbouring Manitoba and Newfoundland and Labrador are the most comparable jurisdictions, with minimum hourly wages sitting at $11.65.

Governments in Alberta and British Columbia have set the highest hourly minimum wages in the country, at $15.00 and $14.60 respectively.

The minimum wage has been increased 12 times in Saskatchewan since 2007, the province said in its release, with the most recent raise coming last fall.

The change comes into effect Oct. 1.