That is totally accurate. If somebody is earning $3 an hour less than they otherwise would have earned, it has an impact of about $6,000 per year, and over the span of their career it can easily get into the tens of thousands of dollars.
It also has an implication for the retirement pension of that individual through either the QPP or CPP or an employer-based pension plan, because those are nearly always based on career earnings. The lower your earnings, the lower your CPP/QPP benefits are when you retire, and the lower your pension is as well.