minus-squareDerisionConsulting@lemmy.catoBritish Columbia@lemmy.ca•Gap between minimum wage and 'living wage' rising across B.C.linkfedilinkEnglisharrow-up0·edit-25 days agoYep: B.C.’s lowest-paid workers will get a pay raise when the general minimum wage increases from $16.75 to $17.40 per hour on June 1, 2024. https://news.gov.bc.ca/releases/2024LBR0006-000240 A 3.9% increase, which is exactly the average inflation in 2023. But, if everything raised by the same percentage, the actual number difference between those two numbers also gets larger by the same percentage. 100 is 90 larger than 10. 110 is 99 larger than 11. Larger difference, same percentage increase. 100 + 10% = 110. 10 + 10% = 11 90 + 10% = 99 linkfedilink
Yep:
https://news.gov.bc.ca/releases/2024LBR0006-000240
A 3.9% increase, which is exactly the average inflation in 2023.
But, if everything raised by the same percentage, the actual number difference between those two numbers also gets larger by the same percentage.
100 is 90 larger than 10.
110 is 99 larger than 11.
Larger difference, same percentage increase.
100 + 10% = 110.
10 + 10% = 11
90 + 10% = 99