The Alberta Living Wage Network has calculated the new Living Wage for Red Deer at $18.90 for 2024.
This is an increase from last year’s rate of $18.75, reflecting rising costs of living that are affecting many families.
Why has the Living Wage increased?
- Rising Rental Costs: Significant increases in rental prices have put additional pressure on household budgets.
- Other Living Expenses Remain Steady: While childcare, electricity, and clothing costs have stabilized or decreased, the rise in housing costs has outweighed these savings.
- Local Economic Conditions: Shifts in the local economy and demand for housing have contributed to higher costs, impacting the overall affordability.
What does this mean for the future of Red Deer?
- The rise in the living wage highlights the need to continue addressing housing affordability and supporting cost living measures. By working together to manage these challenges, Red Deer can ensure it remains a thriving, inclusive community where all residents can live and work with dignity.
The living wage reflects what people need to earn to cover the actual costs of living in their community.
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