'Modest living' for families costs $60,000; This year's 'affordability index' is up 3.8 per cent from 2008
Times Colonist (Victoria)
Oct 3 2009
By: Jeff Bell
The hourly wage needed for a family to maintain a modest quality of life in the capital region has risen to $17.02, according to the "affordability index" calculated by the Community Social Planning Council of Greater Victoria
The index -- previously called a living wage -- applies to a two-parent family, since that's most typical in the region, at 84 per cent of households. It's calculated for a home with two children, aged seven and four, with one in daycare, and is based on the parents both working 35 hours a week, for a combined income of just over $60,000 a year.
The hypothetical family lives in a rented three-bedroom apartment or townhouse.
This year's index represents an increase of 3.8 per cent over last year, and a 10 per cent jump from the wage of $15.63 calculated for 2006. Last year, one in four families was below the index, a number that's believed to have risen this year.
The index is evaluated through the council's Quality of Life Challenge program.
Program member Maureen Young, a community-investment specialist with Coast Capital Savings Credit Union, said the term "affordability index" has replaced "living wage" to emphasize the many factors that go into it.
"We focus on a wage because if you see that number it really hits home. But then you look at those numbers behind the wage to see what is driving it up each year.
"It's child care, it's housing, it's food, it's transportation, it's all of those things."
The council's Christina Peacock said the rising affordability index is a "sad affirmation" for people who are struggling.
"I think for some people it's an affirmation that no, I'm not doing anything wrong -- that I'm working this hard and we're not doing well."…
Housing is the biggest expense at 29.7 per cent of the $4,776.21 monthly budget established. Child care is next at 20.6 per cent, followed by food at 13.4 per cent….
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