Ontario increased its minimum wage to $16.55 per hour from $15.50 effective Oct. 1. It’s a commendable step forward, sure.
The new minimum wage brings in $2,648 a month, or $31,776 a year, before tax deductions. But does the province understand there are still many financial obstacles both domestic and international students must overcome? Especially in light of the housing crisis and the ever-rising cost of living.
The situation as it stands is stark. In Ontario, housing costs have soared and are now significantly higher than the wage growth. The Canada Housing and Mortgage Corporation reported the average 2022 rent for a Toronto apartment was $1,779 a month, $2,692 for a condo.
“Rental prices increased by an average of 7.5 per cent in 2023,” said in a report from the Toronto Housing Secretariat. Many students, both domestic and international, are now faced with the difficult decision of choosing between accommodations and food.
The severity of the situation is illustrated by a report from the Canadian Centre for Policy Alternatives, finding despite this wage increase, people working full-time at the new minimum wage will still find it difficult to pay the average rent for a one-bedroom apartment in most of the nation’s largest cities, particularly Toronto.
“The living wage in the Greater Toronto Area is $23 an hour, far above Ontario’s new $16.55 minimum wage,” The Ontario Living Wage Network said.
Higher tuition costs and fewer options for financial help make this problem worse for international students.
They are also particularly vulnerable to unfair practices since they lack familiarity with local housing markets, further impeding their ability to succeed academically and integrate into Canadian society
Let’s not forget the additional costs associated with being a student, such as textbooks, transportation, lunch, and other related costs that can quickly erode even the modest gains from a wage increase.
I am currently a full-time student and I’m fortunate enough to have financial support from my mother, but what about the students who only have themselves to rely on?
This financial burden of costly rents is only piling onto the stress and anxiety many students already experience. Education should be a pathway to upward mobility, not be a financial anchor.
Students like myself should be able to afford a dignified lifestyle while pursuing an education. Ontario’s commitment to our well-being seems to be lacking.
While a step in the right direction, Ontario’s recent hike in the minimum wage falls short of solving the financial difficulties that both domestic and international students experience.
The student experience, living expenses, and the housing crisis prove to be significant problems that require more thorough answers.
The government must move more proactively to ensure students can concentrate on their studies rather than merely trying to make ends meet to truly make Ontario an affordable and accessible place for students to thrive.
The $16.55 an hour wage is a small step, but it is not enough. Ontario students deserve better.