As cost of living continues to increase, so does BC’s living wage for families this year.
In the 2024 Living Wage Update report, done by the Canadian Centre for Policy Alternatives (CCPA) BC and Living Wage BC, it shows the living wage for Metro Vancouver has gone up to $27.05, a 5.3 percent increase from last year.
A living wage is the wage that two full-time earners need to earn to support a family of four, which is based on local cost of living, local cost of brands, food, transportation, and other items.
CCPA BC senior economist Iglika Ivanova says the wage increased because of the cost of housing.
“It continues to go up at rates higher than inflation, as well as cost of food, which is also going up at rates higher than inflation,” said Ivanova.
“We have seen some moderation in inflation rates, but we still have food and rent going up higher than inflation. Over the last three years, rent has increased by 23 percent and that is the provincial average. Food has increased by 20 percent over the last three years.”
She says while government measures like affordable childcare programs and increases in income-tested benefits were meant to offset rising costs, they are getting outpaced by rent prices.
Along with Metro Vancouver, living wages have also increased in many parts of BC, including Vancouver Island and the Sunshine Coast. For the Comox Valley, the wage went up to $24.36, Cowichan Valley’s wage is $25.71, Port Hardy’s at $24.88, Powell River at $26.49, and the Sunshine Coast at $26.42.
Ivanova says of the communities on the Island, the Comox Valley and Greater Victoria got the largest increases with 10.63 percent and 5.5 percent respectively compared to last year.
“In the Comox Valley we are seeing a big increase but that’s mostly due to change in our methodology,” said Ivanova.
“We added a second car for the average family in the Comox Valley based on feedback from our community partners locally.”
She says while over 450 employers pay their workers a living wage, that isn’t the case for most people.
These increases could lead to record-breaking food bank usage across the province due to the affordability crisis, according to Ivanova.
For how to support those struggling, Ivanova wants to see coordinated efforts from all levels of government to increase wages, larger scale investments in non-market rental housing, more zoning reform, and rent control.
