Listen to the full conversation on the Perspectives Journal podcast, available to subscribers on Spotify, Apple Podcasts, YouTube, Amazon Music, and all other major podcast platforms.
Even Canadian businesses know that low wages and the high cost of housing are two big factors in the cost-of-living crisis, and are hurting customers and business itself. Liliana Camacho, economist at the Better Way Alliance, argues that while rising costs are squeezing businesses, increasing wages and capping rent are not the problem—they’re an investment in better and sustainable business.
Raising wages has a cascade effect, strengthening the economy and benefiting both workers and businesses alike. Housing affordability is not just a crisis for renters—it’s a crisis for businesses too. With rents outpacing wages, and customers being limited in their spending with wages failing to meet the cost-of-living, how are businesses navigating the squeeze? What policies and structural changes could ease the burden? Camacho explores these pressing questions and offers insight into the road ahead for Canadian businesses. Rather than cutting wages to survive, Camacho talks about alternative approaches to adapt to the current economic climate.
Listen to our conversation with Liliana Camacho on how businesses can adjust to rising costs and why fair wage growth is key to long-term resilience.
Notes:
- Spillover Effects: Making Minimum Wage Increases a Popular Policy Choice by Garrett Evans, Perspectives Journal no. 2, Nov. 7, 2024.
- Food bank usage in Toronto is higher than its ever been, says new report by Joanne Lavoie CTV News, Nov. 12, 2024.
- Wage Increase in 2018 wasn’t a job killer by Clarrie Feinstein, The Toronto Star, April 5, 2022.
- Winning Renters’ Rights with Chiara Padovani Activists Make History, a Perspectives Journal podcast, Nov. 26 2024
- Corporate Tax Breaks, Housing Heartbreaks with Silas Xuereb, Perspectives Journal podcast. Oct. 7 2024
