What is the current Minimum Wage in Vancouver?
The minimum wage rate in Vancouver is currently $14.60 per hour as of April 1, 2021. This rate applies to all employees working in British Columbia, regardless of their industry or occupation. The new minimum wage rate will be reviewed annually and adjusted according to changes in the cost of living. As part of its commitment to fight poverty and ensure fair wages for all workers, the provincial government has also announced plans for a Living Wage for Families program that would set a higher minimum wage based on local living costs and family size.
How did we get here?
Vancouver’s minimum wage had previously been set at $10.45 since 2012, with only sporadic adjustments such as an increase from $11.35 to $12.65 in 2017 due to rising inflation rates and increases in the cost of living over time. In 2018, it was announced that BC would raise its provincial minimum wage from $11.35/hour up to $15/hour by 2021 through incremental steps leading up to this final amount; this change was made official on November 1st 2020 when it was announced that BC’s general minimum hourly pay rate would increase from 11:35 CAD per hour (as at October 31 2020) to 14:60 CAD per hour (as at April 01 2021).
What About Small Business Owners?
Though raising Vancouver’s minimum wage has been welcomed by many workers across the province who are struggling with low wages while trying make ends meet, some small business owners have expressed concern about not being able to afford these increased labour costs without having their own profit margins suffer as a result – particularly given how tough times are right now due to Covid-19 pandemic restrictions affecting businesses across Canada.. Currently there are no exemptions or special provisions available specifically designed for small business owners facing difficulty paying employee wages due directly related effects brought on by Covid-19; however employers do still have options such as taking advantage of various federal & provincial financial support programs which can help alleviate some pressures associated with meeting payroll expenses during these difficult times..