Living wage

Living wage,

Definition of Living wage:

  1. A wage that is high enough to maintain a normal standard of living.

  2. That allows a family to meet its basic needs, and provides it with some ability to deal with emergencies, without resorting to welfare or other public assistance.

  3. The idea of a living wage and its effects on the economy is hotly debated. Critics argue that implementing a living wage establishes a wage floor, which harms the economy. They believe that companies reduce the employees hired if they have to pay increased wages. This creates higher unemployment, resulting in a deadweight loss, as people who would work for less than a living wage no longer get offered employment.

  4. A living wage refers to a theoretical income level that allows an individual or family to afford adequate shelter, food, and the other basic necessities. The goal of a living wage is to allow employees to earn enough income for a satisfactory standard of living and to prevent them from falling into poverty. Economists suggest that a living wage should be substantial enough to ensure that no more than 30% of it gets spent on housing.

How to use Living wage in a sentence?

  1. The living wage is often suggested to be quite a bit higher than the legally-mandated minimum wage.
  2. They were no longer sure of earning a living wage there.
  3. The living wage was the highest in the nation in this city so that effected everything and the system functioned well.
  4. In order to live outside of my parents ho,e. I had to earn a living wage , so I could support myself and my wife.
  5. A living wage is a socially-acceptable level of income that provides adequate coverage for basic necessities such as adequate food, shelter, child services, and healthcare.
  6. The United States Government has been attacked on many occasions for the fact that most states minimum wage is not an appropriate or even viable living wage .
  7. The living wage mandates that no more than 30% be spent on rent or a mortgage, and is sufficiently greater than the poverty level.

Meaning of Living wage & Living wage Definition

Living Wage,

What is Living Wage?

  • Minimum wage refers to the theoretical level of income that allows an individual or family to pay for adequate housing, food and other basic necessities. The purpose of the minimum wage is to provide workers with a decent income that satisfies their standard of living and to lift them out of poverty. Economists suggest that decent wages should be high enough to ensure that housing costs no more than 30.

    • The minimum wage is a socially acceptable income that is sufficient for basic necessities such as adequate food, shelter, day care and medical care.
    • The minimum wage does not require more than 30% to be spent on rent or mortgage and is above the poverty line.
    • It is often suggested that the minimum wage be slightly higher than the legal minimum wage.

Literal Meanings of Living Wage

Living:

Meanings of Living:
  1. Enough income or means of earning a living.

  2. Pursuing a particular type of lifestyle

Sentences of Living
  1. The Benefits of Village Life

Synonyms of Living

source of income, nourishment, means of support, keep, live, subsistence, livelihood, having life, means, sustenance, upkeep, way of life, daily bread, lifestyle, life, alive, income, way of living, maintenance, manner of living, mode of living

Wage:

Meanings of Wage:
  1. Next (war or campaign)

  2. A fixed salary payment, usually paid daily or weekly by an employer to an employee or employees, especially unskilled workers.

Sentences of Wage
  1. We have to destroy your fighting ability

  2. We fight for better wages

Synonyms of Wage

remuneration, prosecute, honorarium, execute, go on with, engage in, salary, carry on, proceed with, conduct, allowance, devote oneself to, undertake, pursue, pay, payment, practise, stipend, emolument, fee