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MEDIA RELEASE IMMEDIATE RELEASE March 17, 2011 Minimum Wage Increase Reflects Province’s Economic Reality says Victoria Chamber Victoria, BC – The Greater Victoria Chamber of Commerce supports the announcement to increase the minimum wage by Premier Clark, noting it is important to let the rest of the country know that the province is serious about attracting and retaining employees at all levels of the work continuum. The Victoria Chamber surveyed members in the fall of 2010 and found that 85% of respondents supported a minimum wage increase, with most indicating it should go to $10. “For the most part, business supports paying more than minimum wage, and in fact most respondents pay in excess of the minimum wage as it is,” says Bruce Carter, CEO of the Chamber. “The challenges are primarily in the food and beverage industry where their profit margins are thinner than some other businesses and where they are dealing with a number of economic factors and policy changes that impact their business. We were very pleased to see the wage differential for liquor primary businesses to address that concern.” Details of the chamber’s survey illustrate that entry wages of less than $10 an hour are predominately represented in retail and food and beverage positions. Over half of the respondents have an entry level wage of $12 an hour or more. “It is important to recognize that a wage increase at this level will result in an increase in economic activity in the community,” says Carter. “These wage earners are consumers who spend the greatest portion of income here at home, so while there is clearly an adjustment period for some businesses, the overall affect on the community is likely to be positive.” The Greater Victoria Chamber of Commerce has close to 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce. -30- For more information contact: Shannon Renault Bruce Carter Manager Policy Development & Communications Chief Executive Officer Greater Victoria Chamber of Commerce Greater Victoria Chamber of Commerce Cell 250-812-0510 Email: bcarter@gvcc.org Email: srenault@gvcc.org Cell: 250-889-2271
MEDIA RELEASE
March 17, 2011
Minimum Wage Increase Reflects Province’s Economic Reality says Victoria Chamber
Victoria, BC – The Greater Victoria Chamber of Commerce supports the announcement to increase the minimum wage by Premier Clark, noting it is important to let the rest of the country know that the province is serious about attracting and retaining employees at all levels of the work continuum.
The Victoria Chamber surveyed members in the fall of 2010 and found that 85% of respondents supported a minimum wage increase, with most indicating it should go to $10. “For the most part, business supports paying more than minimum wage, and in fact most respondents pay in excess of the minimum wage as it is,” says Bruce Carter, CEO of the Chamber. “The challenges are primarily in the food and beverage industry where their profit margins are thinner than some other businesses and where they are dealing with a number of economic factors and policy changes that impact their business. We were very pleased to see the wage differential for liquor primary businesses to address that concern.”
Details of the chamber’s survey illustrate that entry wages of less than $10 an hour are predominately represented in retail and food and beverage positions. Over half of the respondents have an entry level wage of $12 an hour or more.
“It is important to recognize that a wage increase at this level will result in an increase in economic activity in the community,” says Carter. “These wage earners are consumers who spend the greatest portion of income here at home, so while there is clearly an adjustment period for some businesses, the overall affect on the community is likely to be positive.”
The Greater Victoria Chamber of Commerce has close to 1500 members and is the voice of business for the Greater Victoria region. The Greater Victoria Chamber has received Accreditation with Distinction from the Canadian Chamber of Commerce.
-30-
For more information contact:
Shannon Renault Bruce Carter
Cell 250-812-0510 Email: bcarter@gvcc.org
Email: srenault@gvcc.org Cell: 250-889-2271