BC announced the 2024 minimum wage hike yesterday, but how does that compare to a living wage?
On June 1, 2024, the minimum wage in BC will increase by $0.65 to $17.40 per hour.
The previous minimum wage was $16.75 per hour.
So just how much disparity is there between BC’s minimum wage and living wage now?
“BC has gone from having one of the lowest minimum wages in the country to the highest of all the provinces. We made a commitment to tie minimum-wage increases to the rate of inflation to prevent BC’s lowest-paid workers from falling behind,” said Minister of Labour Harry Bains yesterday.
According to Living Wage for Families BC, in 2023, Metro Vancouver’s living wage climbed to $25.68, an increase of 6.6% compared to 2022. That’s over $8 an hour more than the minimum wage. Based on the year-over-year increase, the living wage is increasing faster than BC’s minimum wage.
The living wage is calculated by the Canadian Centre for Policy Alternatives.
The minimum wage also doesn’t seem to be keeping pace with how much the cost of goods is increasing. Compared to 2022, a Metro Vancouver family earning a living wage in 2023 had to spend over $4,000 more for the same basket of goods.
“In a province as diverse as BC, communities differ when it comes to their cost of living. For example, while some communities may have lower housing or childcare costs, others may have lower-cost public transit or easier access to goods and services,” said Living Wage for Families BC in a statement last year.
“No matter where they live, families should be able to afford a decent life. There are jobs that need to be done in every community, and therefore people need homes, services, and a good quality of life in every community. A regional calculation allows communities to identify policy advocacy that would address poverty in their community.”
As we heard before the 2023 minimum wage increase, this year’s upcoming hike will likely not please everyone, including BC business leaders.
How do you feel about the minimum wage hike? Do you think we’ll ever see a living wage for all in BC?
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