A Living Wage is the hourly amount a family needs to cover basic expenses in the community they live. Living Wage provides a basic level of economic security, but still represents a conservative, bare bones budget.
Living Wage Myths and Facts
The current living wage rate for the Fraser Valley is $17.40/hour, calculated based on the principle that people who work full time should not have to live in poverty. The living wage changes based on the costs in each region.
– Living Wage Fraser Valley 2018 Report
– Living wage rates across BC
– Living Wage Fraser Valley partners with Living Wage for Families to recalculate the wage on an annual basis
The living wage is calculated based on a two-parent family with two children and each parent working 52 weeks per year at 35 hours per week. The living wage is recalculated annually and includes basic expenses:
- Childcare
- Rental Housing
- Food
- Transportation
- Clothing
- Parent Education
- Healthcare (MSP and supplemental insurance)
The calculation does not cover additional expenses such as:
- Debt repayment
- Future savings for home ownership, children’s university education, or retirement
- Recreation, entertainment, or other such costs
- Costs of caring for a disabled, seriously ill, or elderly family member