British Columbia’s minimum wage set to rise in June to keep pace with inflation
The inflation rate in Canada is now above 5%
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BC’s Fair Wages Commission is reviewing options for tying the minimum wage to the rate of inflation before announcing what that wage will rise to on June 1.
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Last week, the British Columbia government announced that all minimum wage increases would be tied to the rate of inflation
On Wednesday, Canada’s inflation rate topped 5% for the first time in more than 30 years, in part due to higher food prices prompted by supply chain issues related to COVID-19. Rent and home ownership prices are also on the rise, as well as the cost of many consumer goods.
The current minimum wage in British Columbia is $15.20 per hour, up 4.1% from June 2020. The minimum wage increased by 5.4% between June 2019 and June 2020 and by 9 .5% between June 2018 and June 2019. It has not increased at all. between 2002 and 2010. Between 2011 and 2017, the minimum wage increased by 30%.
In a prepared statement, the British Columbia Ministry of Labor confirmed that the next minimum wage increase for British Columbia is scheduled for June 1, 2022.
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“Options are being explored to link the minimum wage to the rate of inflation, including methods used by other Canadian jurisdictions,” the department said. “More information will be provided in the coming months to give businesses time to prepare.”
Nearly 400,000 people in British Columbia work for minimum wage.
The government said the Fair Wages Commission is also working on the third and final part of its mandate – examining the gap between living wages and the minimum wage in British Columbia.
“The government is committed to an economy that works for everyone, and the commission’s review will help us ensure that our approach is inclusive of all British Columbians. We hope to receive the commission’s final report soon,” the government said.
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