BC raises its inflation-indexed minimum wage by 6.9% to $16.75

BC raises its inflation-indexed minimum wage by 6.9% to $16.75

Starting June 1, 2023, BC will have Canada's second-highest minimum wage after Yukon. The province announced that the minimum wage will increase by $1.10 per hour, from $15.65 to $16.75, reflecting the average annual inflation rate in 2022. This increase will affect about 150,000 workers, primarily women and youth.

The government says that indexing the minimum wage to inflation will help workers cope with the rising cost of living and make BC a more attractive place for workers. However, some advocates say that the minimum wage is still too low to meet the basic needs of workers and their families and that there is a $ 7-an-hour gap between the minimum wage and the living wage in BC.

As much as economic experts express that it is unlikely that wages will keep pace with inflation in the coming years, there is logic to indexing minimum wages and social supports as that addresses the affordability crisis that inflation brings to those most vulnerable or inflation-exposed.?