70
Wow a 2.5% increase, meanwhile rent is up 50% the last few years. So progressive it hurts.
When I read it I wondered if $17.85 is worth less now than $17.40 was worth when it was first made the minimum.
Probably, but I don't know enough about economics to check.
Probably, but I don’t know enough about economics to check.
It is, because the increase is below inflation. Judging by other responses it’s clear that others don’t know much economics either, looks like your intuition already puts you above average.
Well the CPI is clearly fake, real inflation is far higher.
A good example is we are printing money to buy mortgage bonds, which means we print money to lower inflation, because it decreases mortgage interest costs.
https://www.bankofcanada.ca/markets/canada-mortgage-bonds-government-purchases-and-holdings/
The CPI does not include housing appreciation in its calculation so this is the parameter that keeps housing prices tethered to reality, and we still lose FX by printing money.
American here, and I've said it before but it applies to everywhere. Minimum wage needs to be based on a calculation that incorporates data from poverty rates, inflation, and cost of living in your local area. And it should recalculate AT LEAST once a year, but preferably quarterly or even monthly.
They should just change that to maximum wage, see what happens
That doesn't seem like much.
Poverty was solved once and for all!
For a 2000 hour work year, that's an increase of $900. Sounds great.
For some people $900 means little. For a lot of people $900 makes the world of difference.
Minimum wage like rent control prevents the bottom from completely falling out, it isn't meant to be the solution and yes I read that article about rent control last week.
If you were paying the average rent on a studio of $1456 (from CMHC, Oct 2024) and your landlord increased rent in January by the legal maximum of 3% you'd be spending an extra $524.16 in 2025 right there. And with this wage increase only coming into effect in June that $900 is only an extra $525 for 2025. Enjoy that extra 7¢/month, best of luck finding something you can actually buy with that. Are 5¢ candies still a thing?
LoL! Check your title.
Fixed!
this post was submitted on 28 May 2025
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