The living wage is defined as the hourly wage two working parents with two young children must each earn to meet their basic expenses.
The region’s hourly living wage has been calculated at $24.29 per hour — up 20% from a year ago, the highest increase since the living wage was first calculated in 2008. It’s also the first time that Victoria’s rate is higher than Metro Vancouver’s because of the increased cost in food.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.
Housing and transportation continue to make up a substantial portion of annual expenses, while the cost of food and other household items has spiked — up 25.7% and 22%, respectively. Household items range from toiletries and bank fees to children’s activities and school supplies. “It is clear that both businesses and workers in the region are feeling the squeeze as they try to recover from the pandemic and both are looking to the province for more action on cost drivers.”
The Community Social Planning Council said many families — including nearly half of renter households in the Greater Victoria region — continue to live in “core housing need,” paying a higher proportion of their income for rent and utilities than is considered by Canada Mortgage and Housing Corp. to be affordable.
The living wage dropped between 2018 and 2019 because of the province’s affordable-childcare benefit, but began rising again last year.Article content
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