Metro Vancouver's living wage rises to $27.05 per hour

A representative with the Bank of Canada displays the new polymer $5 and $10 bank notes alongside the $20, $50, and $100 during a press conference at the Bank of Canada in Ottawa on Tuesday, April 30, 2013. THE CANADIAN PRESS/Sean Kilpatrick

The amount the average worker needs to make to meet their needs in Metro Vancouver has risen to $27.05 per hour, driven mainly by rising rent and food costs.

The year-over-year increase in the region was 5.3 per cent, or $1.37 per hour.

A living wage is what someone working full time needs to earn to pay for essentials including food, rental housing, transportation and childcare. It is calculated annually by the Canadian Centre for Policy Alternatives and Living Wage for Families BC.

"This significant increase highlights the region’s deepening affordability crisis," a summary of the 2024 report says.

The annual calculation is based on a household with two employed adults and two children and does not include expenses related to debt repayment or factor in saving for retirement or post-secondary education.

"While inflation has eased from record highs, essential costs like rent and food continue to rise faster than general inflation," according to the report.

Rent rose by $276 or 9.5 per cent per month compared to last year and food costs went up by $39 per month or 3.3 per cent. The report notes that over the past year here have been reductions in childcare fees, increases to income-tested benefits and the introduction of a federal dental care plan – but says government intervention has not improved overall affordability.

"The savings are entirely consumed by soaring prices, especially for food and shelter, which continue to rise faster than general inflation," the report reads.

The 2024 report also included – for the first time – estimates of the living wage for a single adult or a single parent caring for a young child. For a single person, the hourly amount was $27.36 and for a single parent it was $30.63.

This year's report says there are approximately 500,000 workers – 37 per cent of all paid employees in the region – who make less than a living wage.

The province's minimum wage is $17.40, significantly less than even the lowest living wage calculated in a B.C. community, which was $20.81 in Grand Forks.