2mo ago

B.C.'s minimum wage to increase to $17.85 from $17.40 on June 1

www.biv.com

B.C.'s minimum wage to increase to $17.85 on June 1

10 comments

Wow a 2.5% increase, meanwhile rent is up 50% the last few years. So progressive it hurts.
- The median rent is up is up 375 bucks since 2020
  Min wage is up 520 dollars per month for a full time worker since 2020.
  Of course rent isn't the only thing that's gone up.
- When I read it I wondered if $17.85 is worth less now than $17.40 was worth when it was first made the minimum.
  Probably, but I don't know enough about economics to check.
That doesn't seem like much.
- Poverty was solved once and for all!
They should just change that to maximum wage, see what happens
American here, and I've said it before but it applies to everywhere. Minimum wage needs to be based on a calculation that incorporates data from poverty rates, inflation, and cost of living in your local area. And it should recalculate AT LEAST once a year, but preferably quarterly or even monthly.
For a 2000 hour work year, that's an increase of $900. Sounds great.
- For some people $900 means little. For a lot of people $900 makes the world of difference.
  Minimum wage like rent control prevents the bottom from completely falling out, it isn't meant to be the solution and yes I read that article about rent control last week.
  
  If you were paying the average rent on a studio of $1456 (from CMHC, Oct 2024) and your landlord increased rent in January by the legal maximum of 3% you'd be spending an extra $524.16 in 2025 right there. And with this wage increase only coming into effect in June that $900 is only an extra $525 for 2025. Enjoy that extra 7¢/month, best of luck finding something you can actually buy with that. Are 5¢ candies still a thing?

10 comments