The Ontario Living Wage Network has calculated what residents need to earn in order to make ends meet in 2022.
The organization, made up of employers, employees, non-profits, researchers, and proponents of decent work standards for all Ontario workers, have broken down the province into 10 regions.
Cambridge is a part of the Dufferin Waterloo Guelph-Wellington region and according to their latest report, an hourly rate of $19.95 is needed in order to cover the cost of living. That's the third highest dollar amount behind Grey Bruce, Perth, Huron and Simcoe's $20.70, and the Greater Toronto Area's $23.15.
The City of Cambridge, Cambridge Non-Profit Housing Corporation, YNCU Cambridge and Cambridge Farm and Forest School are the four businesses currently in the OLWN directory.
To calculate this total, the organization determines the cost of basic goods and services for three types of families: two parents aged 35 and two children aged 7 and 3, a single parent (35) with a child aged 7, and a single adult.
The average annual food cost for a family of four in the region is $10,106, for a single parent it's $5,038, with a single adult coming in at $3,453. Food costs have increased by 9.7 per cent from April 2021 to April 2022 according to Statistics Canada, making food one of people's biggest expenses.
When it comes to shelter costs in Waterloo Region, a family of four spends $23,965, a single parent forks out $19,071 and a single adult pays $16,930 annually. These numbers are tabulated through the Canadian Mortgage and Housing Corporation or the Canadian Rental Housing Index.
Child care costs account for $19,040 annually for families of four and $6,472 for single parents.
The report continues to average out the costs related to communication, including cell phone and internet, medical expenses, transportation, clothing and footwear, and “other”.
The breakdown also takes into consideration government transfers and taxes such as Canada Child Benefit, GST credits, Canadian Pension Plan premiums and federal tax, among others.
To view the entire report visit ontariolivingwage.ca.
