Living Wage
The Living Wage is a community-specific indicator that represents the income that an individual needs to earn to grow, thrive, and actively participate in their community.
The Living Wage represents the hourly wage that makes up the income an individual needs to earn in their career to grow, thrive, and actively participate in their community. It provides municipalities with a way to evaluate the impact of community programs on living expenses. It may also help employers quantify the impact that employee benefit programs, such as employee meals, staff accommodation, health benefits, professional development, childcare support, corporate wellness accounts, or corporate savings plan, have on the calculation of the wage.
Explore below to learn more about the Living Wage in Canmore
What is Canmore’s Living Wage?
Canmore’s 2021 Living Wage is $37.40 and is based on a two-income, two-child reference family (annual household employment income of $136,160).
Remuneration should never be based on family composition or lifestyle. The Living Wage is an indicator for community affordability and livability. It represents the income that any or all residents need to earn in their careers to grow, thrive, and actively participate in the community.
Canmore has also calculated the minimum wage that a single adult who is renting, needs to earn to cover living expenses and actively participate in community. Although this is not considered a Living Wage, it can provide guidance on appropriate entry-level compensation. The hourly wage that a single adult needs to earn is $23.70 per hour (annual employment income of $43,152).
To read the 2021 Living Wage Report, pdf click here (1.16 MB)
Remuneration should never be based on family composition or lifestyle. The Living Wage is an indicator for community affordability and livability. It represents the income that any or all residents need to earn in their careers to grow, thrive, and actively participate in the community.
Canmore has also calculated the minimum wage that a single adult who is renting, needs to earn to cover living expenses and actively participate in community. Although this is not considered a Living Wage, it can provide guidance on appropriate entry-level compensation. The hourly wage that a single adult needs to earn is $23.70 per hour (annual employment income of $43,152).
To read the 2021 Living Wage Report, pdf click here (1.16 MB)
Making Canmore More Affordable
The Town of Canmore is committed to finding ways to make the community more affordable by supporting community programs, such as Food and Friends, Vital Homes, and supporting free local Roam Transit. For example, Through Canmore Community Housing (CCH), the Town of Canmore has invested in Vital Home programs that support long-term affordable ownership. Eligible residents of Canmore can reduce their annual ownership costs by approximately $20,143 per year (with a 20 percent down payment) by accessing this program.
These community programs increase affordability. By accessing local programs, a family can potentially reduce their Living Wage expenses from $37.40 to $22.67. pdf Read more about the impact of community programs here. (158 KB)
Click here for more information on how to access local programs/initiatives that increase community affordability.
These community programs increase affordability. By accessing local programs, a family can potentially reduce their Living Wage expenses from $37.40 to $22.67. pdf Read more about the impact of community programs here. (158 KB)
Click here for more information on how to access local programs/initiatives that increase community affordability.
How is the Living Wage calculated?
The Living Wage is calculated based on community expenses related to a two-income, two-child family. This reference was chosen for the basis of the calculation because it represents the average living situation for individuals (ages 25 – 54) with children.
The Alberta Living Wage network created the methodology for the living wage calculation, which is based on Centre for Policy Alternatives and Living Wage Canada. The Living Wage assumes that both adults are working full-time hours (35 hours per week) and it includes more than the basics of food, clothing, and housing (mortgage payments); the calculation also takes into account unexpected costs, small investments in education, and childcare.
The Alberta Living Wage network created the methodology for the living wage calculation, which is based on Centre for Policy Alternatives and Living Wage Canada. The Living Wage assumes that both adults are working full-time hours (35 hours per week) and it includes more than the basics of food, clothing, and housing (mortgage payments); the calculation also takes into account unexpected costs, small investments in education, and childcare.
Why is the Living Wage Calculation important?
The Living Wage represents the hourly wage that makes up the income an individual needs to earn in their career to grow, thrive, and actively participate in their community. It provides insight on community affordability and livability. The Living Wage also provides municipalities with a way to evaluate the impact of community programs, such as Vital Homes or the Good Food Box, on living expenses.
The Living Wage may also help employers quantify the impact that employee benefit programs, such as employee meals, staff accommodation, health benefits, professional development, childcare support, corporate wellness accounts, or corporate savings plan, have on the calculation of the wage
The Living Wage may also help employers quantify the impact that employee benefit programs, such as employee meals, staff accommodation, health benefits, professional development, childcare support, corporate wellness accounts, or corporate savings plan, have on the calculation of the wage
How does Canmore’s Living Wage compare to other municipalities?
Canmore has the highest living wage in Alberta.
The Town of Canmore is a member of the Alberta Living Wage Network, which is a collection of municipalities that are working together to calculate Living Wages across Alberta and to understand the unique supports that municipalities across the province need. To review the Living Wage of municipalities across Alberta, click here.
The Town of Canmore is a member of the Alberta Living Wage Network, which is a collection of municipalities that are working together to calculate Living Wages across Alberta and to understand the unique supports that municipalities across the province need. To review the Living Wage of municipalities across Alberta, click here.
Why is Canmore’s Living Wage so high?
According the 2018 Alberta Spatial Price Survey, Basic Household expenses in Canmore are on average 143 percent more expensive than Alberta’s baseline municipality (Edmonton). Most notably, Canmore’s housing, is 241 percent more expensive than Alberta’s baseline, which directly impacts the Living Wage calculation.
Where can I find more information?
To learn more about other Alberta Living Wage, click here
