Personal Finance

B.C.'s minimum wage will still increase in June to $14.60

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  • Jun 2nd, 2020 1:06 am
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Dec 28, 2019
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B.C.'s minimum wage will still increase in June to $14.60

https://bc.ctvnews.ca/despite-the-impac ... -1.4949079

There are no plans to defer a June 1 increase in British Columbia's minimum wage because of COVID-19, says the province's labour minister.

Harry Bains said Thursday he understands the economic threat the novel coronavirus poses to businesses in B.C., but the province plans to increase the minimum wage to $14.60 per hour from $13.85.

Bains said the provincial government's $5 billion pandemic relief plan includes numerous tax relief and payment deferment options to help businesses. The plan also includes $1.5 billion to support efforts to rebuild the provincial economy.
Good news!
34 replies
Deal Addict
Oct 3, 2013
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West
Good news..... especially for the businesses that are already struggling to make it though COVID...
Penalty Box
Apr 15, 2011
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Scarborough
Phonophoresis wrote: Good news..... especially for the businesses that are already struggling to make it though COVID...
A business that isn't making any sales has more to worry about than minimum wage.
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Dec 16, 2015
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blaznazn22 wrote: A business that isn't making any sales has more to worry about than minimum wage.
Ya so they just closed thus eliminating jobs that just got a raise
To the moon
Deal Addict
Oct 3, 2013
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blaznazn22 wrote: A business that isn't making any sales has more to worry about than minimum wage.
You're completely right. How silly of them. Let me spread the word that these businesses should ignore any government directives and focus on eradicating COVID for us with all their might.

Maybe then they'll be able to stomach this minimum wage increase.
Penalty Box
Apr 15, 2011
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Scarborough
Redsanta wrote: Ya so they just closed thus eliminating jobs that just got a raise
Businesses don't create jobs. The economy does. If the economy is healthy, it can support more businesses and that is what causes workers to be hired. Some people have this dumb belief that businesses just create jobs out of their rear ends, like they are gods or something. The point of every business is to NOT hire while milking as much profits as possible. And at the end of the day, the economy decides if a business will be successful or not. The economy creates jobs.

The question you should be asking is when people will go out and about, behave normally instead of shutting themselves in, so that the economy improves and businesses become profitable again.
Penalty Box
Apr 15, 2011
4189 posts
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Scarborough
Phonophoresis wrote: You're completely right. How silly of them. Let me spread the word that these businesses should ignore any government directives and focus on eradicating COVID for us with all their might.

Maybe then they'll be able to stomach this minimum wage increase.
Minimum wage has absolutely nothing to do with a businesses sales. The business doesn't eat those costs, they always pass it on to the consumer instead. At the end of the day, minimum wage increase has very little impact on most people or even on a business. A burgers price might go up by 20 cents, but people will still buy that burger.

A business that isn't making any sales, as in the current situation is in far more trouble than any min wage increase. You can fire workers easily, scale up and down the labor as needed. Especially min wage workers who usually have no protection. What you can't change is 0 sales because the economy is crap.

Also one more thing. Minimum wage doesn't affect any business unless its exports oriented AND supply out paces demand. For the domestic market, minimum wage has almost 0 affect on a business.
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Oct 7, 2007
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blaznazn22 wrote: Businesses don't create jobs. The economy does. If the economy is healthy, it can support more businesses and that is what causes workers to be hired. Some people have this dumb belief that businesses just create jobs out of their rear ends, like they are gods or something. The point of every business is to NOT hire while milking as much profits as possible. And at the end of the day, the economy decides if a business will be successful or not. The economy creates jobs.

The question you should be asking is when people will go out and about, behave normally instead of shutting themselves in, so that the economy improves and businesses become profitable again.
These are interesting comments.
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Oct 3, 2013
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blaznazn22 wrote: Minimum wage has absolutely nothing to do with a businesses sales. The business doesn't eat those costs, they always pass it on to the consumer instead. At the end of the day, minimum wage increase has very little impact on most people or even on a business. A burgers price might go up by 20 cents, but people will still buy that burger.

A business that isn't making any sales, as in the current situation is in far more trouble than any min wage increase. You can fire workers easily, scale up and down the labor as needed. Especially min wage workers who usually have no protection. What you can't change is 0 sales because the economy is crap.

Also one more thing. Minimum wage doesn't affect any business unless its exports oriented AND supply out paces demand. For the domestic market, minimum wage has almost 0 affect on a business.
It amazes me how you continue to completely ignore over the entire COVID situations. You cannot apply typical economic theories and models to a situation with an extraordinary circumstance.

If a company has been mandated to shut down, and there are no sales, you’re calling this the company’s fault for not making sales. How ridiculous.

Let me reduce the problem into a simpler one. You’ve been laid off from your job, and now are on a fixed income with CERB ($2000/month), at no fault of your own.

You have kids, still have your car to pay, your groceries, utilities, etc. Suddenly, your landlord also gives you notice your rent will be increasing. Are you telling me that’s your problem, and you should just increase your income?

If you cannot see that an action that increases your expenses will cause potential hardship, especially during a time where there are many uncontrollable factors at play where one will have immense difficulty increasing their sales, we have nothing more to discuss. One must always consider contextual factors, and it doesn’t seem like you care to.
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Dec 4, 2016
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Phonophoresis wrote: It amazes me how you continue to completely ignore over the entire COVID situations. You cannot apply typical economic theories and models to a situation with an extraordinary circumstance.

If a company has been mandated to shut down, and there are no sales, you’re calling this the company’s fault for not making sales. How ridiculous.

Let me reduce the problem into a simpler solution. You’ve been laid off from your job, and now are on a fixed income with CERB ($2000/month), at no fault of your own.

You have kids, still have your car to pay, your groceries, utilities, etc. Suddenly, your landlord also gives you notice your rent will be increasing.

If you cannot see that an action that increases your expenses will cause potential hardship, especially during a time where there are many uncontrollable factors at play where one will have immense difficulty increasing their sales, we have nothing more to discuss.
As a supporter of CPC and ON PC, I see the constant comparison between a business and a family as reason conservative lose elections. Business are not people. Business have no human rights. Business don't gather anywhere near the public sympathy as a family facing eviction. Sure, the voting public cares if too many business fail, making an impact on their RRSP. But otherwise, "it's just business. Don't take it personally." Ever heard that saying?

New businesses will open up after all this is over. It's a once in a century pandemic, after all. (Last one was 1918). As far as I know, businesses hiring minimum wage workers are generally not under government price control. It's up to them to raise prices so they can turn a profit. If inflation gets bad enough, general public might care about minimum wage. For now, it's a loss cause politically to be fighting against minimum wage increases.
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Jul 8, 2013
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Red Deer, AB
blaznazn22 wrote: Minimum wage has absolutely nothing to do with a businesses sales. The business doesn't eat those costs, they always pass it on to the consumer instead. At the end of the day, minimum wage increase has very little impact on most people or even on a business. A burgers price might go up by 20 cents, but people will still buy that burger.

A business that isn't making any sales, as in the current situation is in far more trouble than any min wage increase. You can fire workers easily, scale up and down the labor as needed. Especially min wage workers who usually have no protection. What you can't change is 0 sales because the economy is crap.

Also one more thing. Minimum wage doesn't affect any business unless its exports oriented AND supply out paces demand. For the domestic market, minimum wage has almost 0 affect on a business.
Minimum impact? How many small businesses do YOU own / operate?
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Penalty Box
Apr 15, 2011
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TuxedoBlack wrote: Minimum impact? How many small businesses do YOU own / operate?
Yes minimum impact. When you raise prices because of minimum wage, other businesses also do the same thing. You raise prices, the net profit stays the same. There might be an adjustment period, where you gradually increase the price, but end of the day thats what happens.

Some business owners won't be happy until min wage is $0. Actually nowadays, they're complaining about not being paid to hire workers.

Also, I have my own side gigs so I guess you can consider self employment income as business.
Penalty Box
Apr 15, 2011
4189 posts
893 upvotes
Scarborough
Phonophoresis wrote: It amazes me how you continue to completely ignore over the entire COVID situations. You cannot apply typical economic theories and models to a situation with an extraordinary circumstance.

If a company has been mandated to shut down, and there are no sales, you’re calling this the company’s fault for not making sales. How ridiculous.

Let me reduce the problem into a simpler one. You’ve been laid off from your job, and now are on a fixed income with CERB ($2000/month), at no fault of your own.

You have kids, still have your car to pay, your groceries, utilities, etc. Suddenly, your landlord also gives you notice your rent will be increasing. Are you telling me that’s your problem, and you should just increase your income?

If you cannot see that an action that increases your expenses will cause potential hardship, especially during a time where there are many uncontrollable factors at play where one will have immense difficulty increasing their sales, we have nothing more to discuss. One must always consider contextual factors, and it doesn’t seem like you care to.
If you don't have sales, why would you have workers? My old employer fired literally half the office day one of corona. If not for the wage subsidy, he would have fired the other half except for just one person, and that person would be on reduced hours. Nothing wrong with that, its common sense and I would have done the same in his shoes.

You're talking as if sales and minimum wage are separate issues. If you don't have sales, minimum wage is a non factor because at that point you shouldn't even have workers. Unless of course you like giving away money.
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Jul 8, 2013
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blaznazn22 wrote: Yes minimum impact. When you raise prices because of minimum wage, other businesses also do the same thing. You raise prices, the net profit stays the same. There might be an adjustment period, where you gradually increase the price, but end of the day thats what happens.

Some business owners won't be happy until min wage is $0. Actually nowadays, they're complaining about not being paid to hire workers.

Also, I have my own side gigs so I guess you can consider self employment income as business.
Interesting. Never having owned/operated a business myself, all I can say is that increasing minimum wage literally hurts those that have little experience as they're competing against those with more experience.

For example: if I'm an owner of a business, I'd rather hire people with more experience than less especially if I'm paying them the same rate.

As an economist, an increase in minimum wage helps those that have the jobs, and HURTS those that are looking for jobs but don't have any. In order to help the poor, we should have negative tax rate rather than increase minimum wage.
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$15.20 per hour 1st june 2021.

Liquor servers is also $15.20 per hour. Therefore, STOP TIPPING! This is not US where they make $2 an hour and live off tips.
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Oct 26, 2003
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Messerschmitt wrote: $15.20 per hour 1st june 2021.

Liquor servers is also $15.20 per hour. Therefore, STOP TIPPING! This is not US where they make $2 an hour and live off tips.
the fight for $15 crowd can finally claim victory.
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Nov 25, 2003
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Messerschmitt wrote: $15.20 per hour 1st june 2021.

Liquor servers is also $15.20 per hour. Therefore, STOP TIPPING! This is not US where they make $2 an hour and live off tips.
1) Tough to live in Vancouver on that wage
2) I believe in a number of States, companies can actually pay LOWER than the minimum wage (as meagre as it is the States as it is) for jobs that can receives gratuities (the State or Fed government makes up the difference)
I've been away for a while....
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Jun 1, 2006
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divx wrote: the fight for $15 crowd can finally claim victory.
The next fight is for $20.
Have a nice day!


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