Prince George, BC / Lheidli T’enneh – A sharp spike in the region’s cost of living—primarily due to soaring housing costs and highlighting the region’s affordability crisis—has led Prince George’s living wage to rise to $22.93 per hour, a 3.8 per cent increase from last year.
Although inflation has decreased from historic highs, cost increases for essentials continue to push up the living wage, which is calculated by the Integris Credit Union, Canadian Centre for Policy Alternatives, BC Office and Living Wage BC. It is the hourly rate that each of two parents working full-time must earn to support a family of four based on the actual costs of living in a particular community.
The financial relief provided by government measures, such as affordable childcare programs and increases in income-tested benefits, was intended to help offset rising costs, but is outpaced by the rising cost of rent.
“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.
Shelter costs for the Prince George living wage family increased 4.9 per cent this year—an additional $7.80 per month.
A strikingly large gap exists between the 2024 Prince George’s living wage and BC’s current minimum wage of $17.40 per hour.
“Hundreds of thousands of BC workers earn less than the living wage and face impossible choices like buy groceries or heat the house, keep up with bills or pay the rent on time.” says Anastasia French, Provincial Manager of Living Wage BC. “Racialized workers and women are disproportionately affected by low wages in a region where the cost of living keeps climbing.”
Over 450 certified living wage employers across the province, including Integris in north central BC have stepped up to pay both direct and contract employees wages sufficient to support families.
“Integris is proud of our role in supporting the importance of the living wage in ensuring that base wages are governed to set at least an objective minimum standard for employees. As a living wage employer, we hope all employers recognize their role in driving a culture where we meet and exceed these base minimums for our employees,” says Alison Hoskins, Integris CEO.
The Prince George living wage calculation is based on the needs of two-parent families with young children, but it is also meant to support all workers so that young adults are not discouraged from having children because of low wages and older workers have extra income as they age, explains Van Tay, VP Human Resources, Integris.
“Some preliminary estimates we have produced, however, suggest that the living wage may not be sufficient to support single people in Prince George. In other communities this is not the case, and we want to explore this in more detail in the future.
“The living wage affords a decent, but modest, standard of living without the extras many of us take for granted. It does not cover credit card, loan or other debt payments, savings for retirement or for children’s future education or the costs of caring for a disabled, seriously ill or elderly family member,” concludes Tay.
About Integris Credit Union
Integris Credit Union respectfully acknowledges that we operate on beautiful and unceded Dakelh and Secwepemc Territories. Integris is a financial cooperative with $1.8 billion in assets under administration, offering banking, insurance (including ICBC Autoplan), Financial Planning, and Group Benefits to over 27,000 members in the North Central BC region. As a living wage employer, Integris continues to be a leader and community enriching organization.
For more information about Integris, visit: www.integriscu.ca
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