What is a living wage?

[alenaghose]

I’ve been reading about the term “living wage” and I’m a bit confused. How is it defined exactly, and how does it differ from the minimum wage set by law? Also, who decides what qualifies as a living wage in different areas? Looking forward to your insights!

 

[niyati]

A living wage is the minimum income a full-time worker needs to afford basic necessities and a decent standard of living in a specific location. It goes beyond the federal poverty level and accounts for local costs like housing, food, transportation, healthcare, and childcare. Essentially, it's the hourly rate that allows a worker to meet their needs without relying on public assistance.

 

[danisjohn]

A living wage is the minimum income necessary for a worker to meet basic needs such as housing, food, healthcare, and transportation without financial assistance. Unlike the minimum wage, it reflects the actual cost of living in a specific area, ensuring economic stability and a decent standard of living for individuals and families.

 

[Mayank]

A living wage is the minimum income necessary for a worker to meet basic needs, including food, housing, healthcare, and other essentials. It ensures a decent standard of living, unlike minimum wage, which may not cover all living expenses in many regions.

 

[rajat]

A living wage is the minimum income necessary for a worker to meet basic needs, including housing, food, healthcare, and transportation, without public assistance. Unlike minimum wage, it reflects the local cost of living. A living wage supports a decent standard of living and promotes financial stability for individuals and families

 

[Mayank]

A living wage is the minimum income necessary for a worker to meet basic needs such as housing, food, healthcare, and transportation, ensuring a decent standard of living above the poverty line.