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Gap between minimum wage and 'living wage' rising across B.C. (www.vicnews.com)

submitted 2 months ago by [email protected] to c/[email protected]

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[–] [email protected] 4 points 2 months ago* (last edited 2 months ago) (1 children)

Yep:

B.C.’s lowest-paid workers will get a pay raise when the general minimum wage increases from $16.75 to $17.40 per hour on June 1, 2024.

https://news.gov.bc.ca/releases/2024LBR0006-000240

A 3.9% increase, which is exactly the average inflation in 2023.

But, if everything raised by the same percentage, the actual number difference between those two numbers also gets larger by the same percentage.

100 is 90 larger than 10.
110 is 99 larger than 11.

Larger difference, same percentage increase.

100 + 10% = 110.
10 + 10% = 11

90 + 10% = 99

[–] Bookmeat 3 points 2 months ago (1 children)

That's the problem with blindly using percentages.

[–] NotMyOldRedditName 1 points 2 months ago

It may be a problem, but it also alleviates a lot of the problems of having to have a group continually decide on a number on good and bad years which would become highly political. Even if it was a non partisan group, partisans have their way of fucking with that kind of thing anyway. Then you get a bad government and or group to just start saying 0% year after year.

A mostly predicable set value based off another value is less likely to get messed with, even if it has its own problem.