Alberta Living Wage Network Releases 2024 Rates
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A living wage reflects what earners in a family need to bring home based on the actual costs of living in a specific community. Living wages are rooted in the belief that individuals and families should not just survive but be able to live in dignity and participate in their community.
The living wage is defined as the hourly wage a worker needs to earn to cover their basic expenses and participate in the community (What is a living wage? livingwagealberta.ca 2024).
Medicine Hat's living wage in 2024 is $17.55. As a community, we have one of the lowest living wages in Alberta. Releasing living wages sheds some light on what it costs to live in Alberta. Calculating and publishing living wages inform businesses and policymakers about local affordability measures and how they compare to other cities and provinces.
The living wage is calculated on the local housing costs, food, childcare, transportation, clothing, healthcare, continuing education, community participation, and savings for unexpected costs. Even with a 10 percent year-over-year housing cost increase, Medicine Hat enjoys an average home price of $360,692 versus the provincial average of $493,549, one of the factors influencing a lower and more accessible living wage for our community.
Participating in the Alberta Living Wage project aims to collaborate with and support initiatives that provide objective data on living costs at the community level. Living wage information is valuable to decision-makers and employers when identifying priorities and benefits that would support residents and employees. Providing a living wage as a basic standard within an organization is one of a range of competitive hiring tools available to employers. From a workplace culture and hiring perspective, the Alberta Living Wage Network is an excellent resource for employers and human resource professionals, offering research on improved employee retention and morale as well as a certification process that organizations can undertake.
Read more about how to become a Living Wage Employer.
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