If the average family of four had two parents earning $20.50 an hour full time, at the end of the year theyB次元官网网址檇 have enough savings to buy one latte.
This living wage estimate is calculated by the Community Social Planning Council of Greater Victoria, and uses a model of two full-time working parents with two children, aged seven and four, to calculate the minimum income required to meet the most basic needs.
With two people making $20.50 an hour, such a family could pay for basic shelter, clothing, food, transportation and medical expenses, as well as two weeks of sick leave. Without any other income or outside help, they would not be able to afford to save for their childrenB次元官网网址檚 post-secondary education, their own retirement, to pay off debt or care for an elderly relative.
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The CouncilB次元官网网址檚 annual report, released Wednesday, put the regionB次元官网网址檚 living wage at $0.49 more than in 2017. The highest costs attributed to shelter and child care, which made up more than 50 per cent of expenses. After all other costs were calculated, an average family would have $6.18 in savings by the end of the year.
B次元官网网址淲e need to see changes in government. We need to look at measures to increase the supply in affordable housing options and improve the costs of child care,B次元官网网址� said Council research manager Stefanie Hardman. B次元官网网址淭hey are the two largest expenses, and any measures that could help alleviate those would help parents struggling with a living wage.B次元官网网址�
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Recent changes announced in the provincial budget, such as a slash in MSP rates and the introduction of a Child Care Fee Reduction program are examples of social policies that could make a difference. However, the report notes that child care costs presently reach $15,210 per year for two children in care B次元官网网址� including the $900 in savings from the fee reduction program.
B次元官网网址淚 think seeing how inadequate our minimum wage is, itB次元官网网址檚 really stark,B次元官网网址� Hardman said. B次元官网网址淲e need to take further action and stronger initiatives to make this happen.B次元官网网址�
Some employers combat poverty by joining the Living Wage Employer program, which guarantees their employees and contract staff the living wage of their region. However, without further changes in social policies, Hardman said, the living wage is only going to increase next year.
For more information on the report, visit
