How much does a young family of four need to earn in order to meet their basic expenses?
The Human Development Council is out with its latest living wages for four of New Brunswick’s cities.
It now stands at $24.50 in Fredericton (up $1.05), $23.35 in Saint John (up $1.75), $22.75 in Moncton (up $1.90) and $21.65 in Bathurst (up $2.45).
The council said this year’s living wage increase is once again driven by inflation.
It said the cost of living, especially shelter and food costs, has climbed sharply in all four cities.
“Many families in the province earn less than a living wage and struggle to make ends meet,” said Randy Hatfield, executive director of the Human Development Council.
New Brunswickers working for minimum wage currently make $14.75 an hour — the second lowest in the country.
Hatfield said while they are not recommending that the living wage become the minimum wage, the report provides ample support for an increase.
“The living wage framework also confirms that good public policy can make life more affordable for families,” said Hatfield.
The living wage is the hourly wage that two working parents with two young children, aged two and seven, must earn to meet their basic expenses once government taxes, credits, deductions and benefits have been considered.
The family’s basic budget is based on 10 expense categories, including rent, food, childcare, and transportation.
It does not include credit card or loan payments, savings for retirement, life insurance, home ownership, or costs associated with caring for a child or adult family member living with disabilities or a severe medical condition.
You can view the full report by clicking here.
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