To the surprise of no one, the income a single Montrealer needs to live comfortably rose by 9% between 2022 and 2023. That's according to the Institut de recherche et d’informations socioéconomiques (IRIS), which published the 2023 edition of its sustainable income report on May 3. The report identifies the minimum-income residents of seven Quebec cities Gatineau, Montreal, Quebec City, Saguenay, Sept-Îles, Sherbrooke and Trois-Rivières need to live not just above the poverty line but "with dignity."
Employers in Montreal are raising salaries more than anywhere else in Canada. A new study on compensation budgets across the country found that they're going up as a result of inflation. Most employers are now allocating at least 4% more on average for total budget increases in 2023, up from the 2.8% rise seen in 2022.