As the cost of living continues to rise, the income needed to cover expenses also rises.
The City of Revelstoke is among several B.C. Interior communities whose living wage increased last year.
In Revelstoke, the living wage climbed to $25.50 per hour in 2024, marking an increase of 3.6 percent from last year to accommodate the cost of essentials which continues to balloon across Canada, particularly for housing and food.
The living wage is the hourly rate that each of the two parents working full-time must earn to support a family of four, based on the actual costs of living in a particular community. It is calculated by the Canadian Centre for Policy Alternatives, BC Office and Living Wage for Families BC, in conjunction with the City of Revelstoke and CSRD Area B Economic Development.
According to the website Living Wage Canada, the living wage is not the same as the minimum wage, which is the legislated minimum all employers must pay and is set by the provincial government. The living wage reflects what people need to earn to cover the actual costs of living in their community, and draws on community-specific data to determine the expenses.
Living wage employers voluntarily decide to pay a living wage and maintain their certification as new rates are calculated for their area.
While the calculation is based on a family unit, it is also meant to support all workers including young adults, single parents and those working post-retirement.
Residents can see a slightly higher wage calculated in resort municipalities such as Revelstoke and the Town of Golden. Golden increased to $26.96, while larger municipalities, like Kelowna, increased to $25.77, Kamloops to $23.69 and Penticton to $23.93.
“Rent has been the most expensive item in the living wage family budget since the calculation was first produced, and this year is no exception,” says Iglika Ivanova, Canadian Centre for Policy Alternatives, BC Office senior economist and the report's lead author.
Based on an online community survey this fall, shelter costs for Revelstoke living wage families increased 10 percent this year - an additional $290 per month, to $2,959 for a three-bedroom rental unit, which was the fifth highest in all of B.C.
“With more than 450 certified living wage employers across the province, many local employers have stepped up to pay both direct and contract employees wages sufficient to support families,” says Acting Mayor, Austin Luciow proudly.
For more information on the living wage calculation and how corporate and community leadership can reduce low-wage poverty, go online at www.livingwage.ca.
