Mad Mike
Well-known member
I'm not really sure what this means, I can't get unskilled labor at $15/hour in a clean shop with career development, pension, dental, prescription plan benefits. I can't get reasonable applicants at $20.
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Minimum Wage Increase
- Thread starter mimico_polak
- Start date
I'm sure it will but they aren't feeling the heat yet. Haven't yet run out of money and are still enjoying perpetual vacation. Another is trying to sell Norwex instead of returning to a restaurant.
I haven't had a job that had pension/dental/prescription in almost 20 years. I made more hourly, but all expenses and saving were my problem to pay for.
I heard Stonks is where all the money's at.
You need some money to play with Stonks. And some initiative to setup a trading account. I have harassed my brother monthly to get a trading account setup and get an RESP going for his kids. It's still not done. Oldest kid is five. fack. Government has changed the rules so you can only catchup a year at a time (assuming you want the grant which you do). It doesn't look like he will get it funded this year so the oldest kid will be 12 before he even gets caught up. That's not a lot of years left to grow.
Now crypto is interesting. Sprinkle a few CERB payments around and hope that in a few years you can retire (bleeping "investments" with no connection to fundamentals).
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Mad Mike
Well-known member
My daughter worked as a server for 3 summers while going thru school. Tips averaged $20/hr, on good days up to $40. She never worried about the wage part, that was a bonus.
She worked as a cart girl slinging sammies and beers. Her friends in decent restaurants did better, but suffered ****** hours.
Good servers make good money
As we had talked my buddy has the same issue. Lot of willing bodies for $15/hr cash so they can take their CERB/CRB on top of the pay…but none willing at $20 on payroll.
Govt programs ended so it’s just a matter of time when the funds run out and it’s time to get to it.
Timmies three or four times a day, a latte or so as well, dining out or take out half the meals, car washes, cleaning lady, lawn and snow service, handyman to fix house stuff, how many could afford their lifestyle if it wasn't for minimum wage workers either here or on the pacific rim?
It would have an interesting leveling effect if we made all incomes everywhere life sustaining. It would also destroy the economy as we know it.
Burger prices would go up and quantities down creating unemployment and destroying investor capital.
I have ~one coffee a week outside of the house. Restaurant every two to four weeks. Commercial carwash maybe once a year. No cleaning lady. No lawn or snow service. No handyman to fix house. Not a giant pile of cash at the end of the month. If I did all of those things, I would probably be cashflow negative which is a pretty crap situation and obviously unsustainable. Many of my neighbours do most of those things, but they bought a few years before me so their mortgage is likely smaller by 50% or better. If I can get through the next 15 years without a cashflow crisis, we will be in great shape as investments should be at a level to start kicking some money out.
I don't think it is possible to make all incomes life-sustaining. Needs with limited supply (such as housing) means that those items grow to match the available capital. Minimum wage could be 60K a year and there would still be no way for a single minimum wage earner to afford a decent place to live (landlords would love it though as rent would be way up).
I'm the guy that was keeping servers paid (pre pandemic) restaurants 3-4 times a week, bevys 4-5 times , coffee mid day . I'm out of that rotation and not sure I'm missing it.
I still have the same clients and friends , we just do something else.
my last club bartender quit to work a a nice restaurant in Bronte , he's making $2-300 per shift in tips on 'hot' nights. Grumbles that the lack of cash payments means it mostly goes through the payroll system. Tough times LOL
I still have the same clients and friends , we just do something else.
my last club bartender quit to work a a nice restaurant in Bronte , he's making $2-300 per shift in tips on 'hot' nights. Grumbles that the lack of cash payments means it mostly goes through the payroll system. Tough times LOL
NEED FASTER
Well-known member
Sowing wild oats, hoping for a crop failure.
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D
Deleted member 50930
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NEED FASTER
Well-known member
According to stats Canada, and I'm just putting this here as info.
1971 - minimum wage - $1.65 @ hr for a 44 hr week = $3,630.00 @ year <> average house - $32,513.00 = 8.9 yrs wages.
2021 - minimum wage - $14.35 @ hr for a 40 hr week = $28,700.00 @ yr <> average house - $1,070,000.00 = 37.3 yrs wages.
Note: 1971 average house size 1500 sq ft
2021 average house size 2464 sq ft
Has minimum wage fallen that far, or have houses jumped too fast?
** average GTA wage 2021 = $134,000.00 **
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Both but mostly houses jumped too fast. Compare vs inflation or if you prefer some other commodity. Gasoline in early 1970's was ~0.54 $/gallon ($0.119 $/litre). 1 hour of work bought you ~13.9 litres of gas. Now gas is ~$1.45.litre so one hour of work buys you 9.9 litres of gas. So using gas as a benchmark, minimum wage has slipped about 40%. If minimum wage was 40% higher now (20.09/hr), that would still mean the average house takes 26.6 years of gross wages.
Looking at average house is a little messed up too I think. The average 1971 detached house was far far smaller and more cheaply finished. Half the square footage and siding, wall to wall carpet and laminate instead of brick/stucco, hardwood and granite. Obviously most of the 1971 houses still exist but many(probably most) have had literally hundreds of thousands dumped into their finishes.
When I started working in the mid 60's the minimum wage was $0.80 / hour and the house we were living in was worth $15,000. 18750 man hours labour
Today the minimum is $15.00 and that house is worth about $2,000,000. 133,333 man hours, over 7 times the 60's price.
Regular gas was 29.9 a gallon, they pumped it, cleaned the windshield, checked the oil, battery etc.
Minimum wage has never been a great bar for home ownership. Even 9+ years gross plus interest means you can never pay off a house. Median is probably a better metric to track for home ownership. Obviously different hours required but I suspect the ratio between now and then will likely be close to your seven times kick in the nuts (for those trying to get it, for those already in, that may have exceeded their after-tax income).
The ones that get really hurt don't get much media attention. ODSP, low-income pensions (including military) etc. Minimum wage earners are their competition for housing. Minimum wage is climbing much faster than their income (which in many cases is completely fixed). As they aren't working, they can't afford to live close to jobs. Unfortunately that means they also can't afford to live close to stores, transit etc that they need to survive. The money is not there for a conventional vehicle. You end up with many of them way outside of rural towns and riding an ebike or bicycle up to an hour to go grocery shopping.
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