Thursday, June 02, 2011

Hennessy's Index: A number is never just a number : June 2011: Minimum vs Living Wage

  • $8.75

    Minimum hourly wage in B.C. Lowest in Canada, but scheduled to rise to $10.25 in May 2012. (Source)
  • $18.81

    Hourly pay needed to make a living family wage in Vancouver. (Source)
  • 25

    Percentage of couples with children in Greater Vancouver who earn less than the living wage income. (Source)
  • Three

    Number of financial institutions in Canada that pay a living wage: VanCity Credit Union, Community Savings Credit Union and CCEC Credit Union. (Source)
  • One

    Number of municipalities in Canada to adopt a living wage policy for all city staff: New Westminster, B.C. Other municipalities are considering following suit. (Source)
  • $11

    Minimum hourly wage in Nunavut. The highest in Canada. (Source)
  • $10.25

    Ontario’s minimum hourly wage. The second highest in Canada. (Source)
  • $16.60

    Hourly wage needed in 2008 for couples with two young children living in the Greater Toronto Area to earn a living wage. (Source)
  • 140

    Number of municipal living wage policy/bylaws passed in the U.S. since 1994. (Source)
  • One

    Number of Olympic games committed to pay a living wage: the London Olympics 2012. (Source)
  • One

    Number of provinces or territories that index minimum wage to inflation every year: Yukon, for the city of Whitehorse. (Source)
 
Here's the much more esthetically pleasing pdf:

http://www.policyalternatives.ca/sites/default/files/uploads/publications/National%20Office/2011/06/HENNESSY%20INDEX%20JUNE%202011.pdf

Can it be true that so few financial institutions pay a living wage?  It's well worth a look at the source material:

May 24, 2011 12:30 ET

Vancity Becomes the Largest Organization in Canada to Adopt Living Wage Policy



VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2011) - As Canada's largest credit union celebrates its 65th anniversary, it is timely that Vancity sets a precedent as the largest organization in Canada to become a Living Wage Employer. A living wage is different than the minimum wage; it reflects an income a family provider must bring home in order to meet their basic living needs.

Vancity announced today that all of its employees and service providers will benefit from their commitment to the Living Wage policy. Vancity is joining a growing number of employers being certified under Metro Vancouver's Living Wage Employer Program who have recognized the social and economic benefits of paying a living wage.

Approximately 25% of couples with children in Greater Vancouver live below the Living Wage level. The current minimum wage in British Columbia is $8.75 per hour, the current hourly living wage for Metro Vancouver is $18.81 per hour.

"Paying a living wage to our employees and service providers will help make families stronger and communities healthier. British Columbia has the highest cost of living yet the lowest minimum wage in Canada," said Tamara Vrooman, President and Chief Executive Officer, Vancity. "We want to be part of a community that invests in the long-term prosperity of individuals and the economy."

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