Minimum wage rising to $15.65/hour on June 1
On June 1, the minimum wage in BC will increase to $15.65 per hour based on a 2.8% rate of inflation in 2021. It will be the first increase tied to inflation, as announced in last month’s BC Budget.
“I spoke to Finance Minister Robinson about this after the provincial budget was unveiled and made sure she understood that our members were concerned about how the government was going to tie an increase to inflation. Businesses need to be able to plan their costs,” Chamber CEO Bruce Williams said in a statement to media. “An increase of 2.8% is reasonable, given the uncertainty over the fluctuation in inflation caused by global events and supply chain issues connected to the pandemic.
“However, this represents one more cost for businesses already operating with tight margins. Raising wages contributes to rising prices, and we can’t take economic recovery for granted. Government has other options for making life more affordable, such as improving conditions for the construction of more homes to meet the demand of all the people who want to move to our region. It’s clear that without adequate housing supply, costs will continue to increase and make it even harder for people earning minimum wage to live in our province.”
“I spoke to Finance Minister Robinson about this after the provincial budget was unveiled and made sure she understood that our members were concerned about how the government was going to tie an increase to inflation. Businesses need to be able to plan their costs,” Chamber CEO Bruce Williams said in a statement to media. “An increase of 2.8% is reasonable, given the uncertainty over the fluctuation in inflation caused by global events and supply chain issues connected to the pandemic.
“However, this represents one more cost for businesses already operating with tight margins. Raising wages contributes to rising prices, and we can’t take economic recovery for granted. Government has other options for making life more affordable, such as improving conditions for the construction of more homes to meet the demand of all the people who want to move to our region. It’s clear that without adequate housing supply, costs will continue to increase and make it even harder for people earning minimum wage to live in our province.”
