The Ontario Living Wage Network (OLWN) has released its annual report detailing the living wage rates of various regions in the province, including Hamilton.
According to the 2022 report released this month, the new living wage in Hamilton – the hourly wage someone needs to earn to be able to meet their cost of living expenses – is $19.05, or a salary of roughly $40,560 per year before deductions.
The OLWN calculates its cost of living figures for Hamilton by determining the costs of a basket of basic goods and services for three scenarios: a single adult, two parents aged 35 with two children ages 3 and 7, and a single 35-year-old parent with a 7-year-old child.
— Ontario Living Wage Network 🇺🇦 (@OnLivingwage) November 14, 2022
The organization then calculates the living wage by determining the after-tax income each adult would need to have – adding applicable government transfers and subtracting payroll and income tax deductions – to cover those expenses.
The report also breaks down the average cost of certain essential needs like housing, food, transportation, communications, and education.
Are you surprised by the living wage calculation for Hamilton? Did you expect it to be higher, or lower? Let us know in the comments!
Read the full report here.