Golden, BC — As the cost of essentials continues to balloon, particularly for housing and food, Golden’s living wage has climbed to $25.78 per hour for 2023, marking an increase of $0.22 per hour or 0.86% from last year, the 2023 Living Wage Update report shows.
The living wage, calculated by Golden Community Economic Development, in partnership with Golden CCRR, Canadian Centre for Policy Alternatives, BC Office and Living Wage for Families BC, is the hourly rate that each of two parents working 35 hours per week must earn to support a family of four based on the actual costs of living in their community.
The 2023 Living Wage report shows that the Golden living wage family has to spend over $235.50 more monthly than last year for the same basket of goods.
While parents with young children in licensed child care have benefitted from large fee reductions this year, the savings are entirely consumed by soaring prices in other areas. Housing costs alone demand an added $106 per month from their budget—a spike of 5.9%. Food, the second most expensive item in the living wage family budget, is an extra $72.37 per month, soaring by 6.1 per cent.
“Although inflation has dropped from last year’s historic highs, the cost of living across BC continues to increase rapidly”, says Anastasia French, Living Wage for Families BC Provincial Manager.
“Our organization values this work as an important indicator of the cost of living in our community and a tool to raise awareness as to the wage local workers need to earn to make ends meet and have access to a decent lifestyle”, says Caroline Tremblay, Golden CED.
Many BC employers have stepped up to pay both direct and contract employees wages sufficient to support families, with nearly 400 certified Living Wage Employers across the province.
Many BC workers earn less than the living wage and face impossible choices—buy groceries or heat the house, keep up with bills or pay the rent on time.
“In the last two years, the gap between the minimum wage and living wages in BC has grown significantly. In Golden, this gap is now in the $9 dollar per hour range”, says Tremblay.
“BC’s low-wage workers need a raise but the labour market alone can’t resolve all economic insecurities,” notes French. “Governments can and should do more to address the cost of living crisis that people are facing across the province.”
Tremblay stresses that the living wage only allows for a modest lifestyle without extras many of us take for granted.
“The living wage lets workers meet their basic needs and have the time and money for an active and fulfilling family and personal life”, she adds.
Golden CED will host Living Wage information events on November 27th at 12pm and 28th at 5:30pm, at Wandering Fern to present the calculation process and have a Q&A.
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