Labour Minister Harry Bains (Image Credit: Flickr / Province of B.C.)

By Spencer Mielke

Miniumum Wage

Labour minister to address possible minimum wage hike Wednesday

Apr 5, 2023 | 5:15 AM

VICTORIA — With summer steadily approaching, many people are struggling with the cost of living in British Columbia. The average cost of living including rent in B.C. is $2,990 per month, which equates to $35,880 per year.

For someone living off a minimum wage job (in B.C, minimum wage is $15.65 per hour), they would have to work a total of 47 hours per week to equal the cost of living. When comparing the cost of living with a minimum wage position working 40 hours per week there is a $4,500 discrepancy per year.

Come June 1, the minimum wage cost could go up depending on the average inflation rate, which has skyrocketed this year. Last year’s increase was 45 cents, but this year could be much more due to inflation.

Forecasters believe this increase could go up to over a dollar. Currently, the province does not have a scheduled change coming to the minimum wage. Minister of Labour Harry Bains is set to make an announcement regarding minimum wage Wednesday (April 5).

For minimum wage to be equal to the cost of living, while working 40 hours per week, it would have to increase by $2.39. But experts say this cost of living minimum wage price will be unrealistic. According to inflation rates, the best estimate for how much minimum wage should be raised to will be $16.58 which is less than a dollar increase.

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While Bains may not directly indicate what the new rate will be, experts suggest he will most likely say whether any increase is imminent.