Report says minimum wage needs to be higher than $33 to afford rent in Toronto
Guest: Clarrie Feinstein, business reporter
Highlighting that those trying to rent while earning minimum wage are fast losing ground, a recent report from the Canadian Centre for Policy Alternatives paints a bleak picture of affordability in most Canadian cities. It all comes down to the “rental wage,” the hourly wage that would be required to be able to afford rent while working a 40-hour week and spending no more than 30 per cent of gross income on housing. The report highlights that across most of Canada, the minimum wage is not near enough for a one-bedroom apartment. In Toronto, one would have to earn more than double the provincial minimum wage of $15.50. We take a look at the findings of this report and the factors that led us here.
This episode was produced by Saba Eitizaz and Sean Pattendon.