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B.C. tying minimum wage increases to inflation permanently through new law
(www.nelsonstar.com)
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this post was submitted on 27 Feb 2024
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Does anyone have a good estimate for what minimum wage would be if this had been implemented in 1970?
Did the math once at from somewhere around that time it'd be about $27
Thanks. When we saw this, my wife and I just guesstimated that it would have to be close to $30 based on our experiences in the mid-late 1970s compared to now.
I was earning about 1.5 times minimum wage and managed to keep a pretty nice 2-bedroom apartment and food on the table while she stayed home with our son. We didn't think we had a lavish lifestyle, but we still managed a decent used car, her motorcycle, weekly date nights, and fairly regular camping trips.
Sadly, that might actually qualify for a fairly lavish lifestyle today.