this post was submitted on 28 May 2025
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Wow a 2.5% increase, meanwhile rent is up 50% the last few years. So progressive it hurts.
When I read it I wondered if $17.85 is worth less now than $17.40 was worth when it was first made the minimum.
Probably, but I don't know enough about economics to check.
It is, because the increase is below inflation. Judging by other responses it’s clear that others don’t know much economics either, looks like your intuition already puts you above average.
Well the CPI is clearly fake, real inflation is far higher.
A good example is we are printing money to buy mortgage bonds, which means we print money to lower inflation, because it decreases mortgage interest costs.
https://www.bankofcanada.ca/markets/canada-mortgage-bonds-government-purchases-and-holdings/
The CPI does not include housing appreciation in its calculation so this is the parameter that keeps housing prices tethered to reality, and we still lose FX by printing money.
The median rent is up is up 375 bucks since 2020
Min wage is up 520 dollars per month for a full time worker since 2020.
Of course rent isn't the only thing that's gone up.