How much money can i make on minimum wage

In a long-term budget, you can plan for expenses that only come up occasionally, such as car repairs or doctor visits, by setting aside a few dollars each week. On the other hand, the most expensive U. The average U. Housing Expenses. In West Virginia, your best bet is the condo in Wheeling mentioned earlier.

Site Index

The U. Congress established the minimum wage to stop employers from exploiting desperate workers. More than half of them are between 16 and 24, and the majority work in the hotel and restaurant business. Many argue that the minimum wage should provide a living wage. That’s enough to cover mucj, clothing, and shelter. You are confined to rural areas, older areas in some cities, college towns, and states with a low cost of living.

How Much Do You Need to Live in America?

When Congress delays raising the minimum wage, states and cities typically step in and raise their own minimum wages. That is exactly what is happening now. More than half of the states, representing 60 percent of the United States population, now have minimum wages that exceed the federal level. And Gov. Andrew M.

How does the California Minimum Wage stack up?

When Congress delays raising the minimum wage, states and cities typically step in and raise their own minimum wages. That is exactly what is happening. More than half of the states, representing 60 percent of the United States population, now have minimum wages that exceed the federal level.

And Gov. Andrew M. When I started studying the minimum wage 25 years ago, like most economists at that time I expected that the wage floor reduced employment for some groups of workers. But research that I and others have conducted convinced me that if the minimum wage is set at a moderate level it does not necessarily reduce employment.

While some employers cut jobs in response to a minimum-wage increase, others find that a higher wage floor enables them to fill their vacancies and reduce turnover, which raises employment, even though it eats into their profits. The net effect of all this, as has been found in most studies of the minimum wage over the last quarter-century, is that when it is set at a moderate level, the minimum wage has little or no effect on employment.

Equally important — but less well known — within New Jersey, job growth was just as strong at low-wage restaurants that were constrained by the law to raise pay as it was at higher-wage restaurants that were not directly affected by the increase since their workers already earned more than the new minimum. And at what level would further minimum wage increases result in more job losses than wage gains, lowering the earnings of low-wage workers as a whole?

Their bill is co-sponsored by 32 senators, and supported by President Obama and Hillary Clinton. Economics is all about understanding trade-offs and risks. The trade-off is likely to become more severe, and the risk greater, if the minimum wage is set beyond the range studied in past research.

What Kind of Housing the Minimum Wage Will Get You in Each State

The number of months since the last minimum wage increasein July Montana has nothing in that price range. Amo holds a Bachelor of Science in business administration with a concentration in information systems. Terms Privacy Policy. College towns in smaller cities offer affordable student housing. A more realistic way of figuring out whether you could really survive on the minimum wage long-term is to use this interactive tool via The New York Times. Why the Cost of Living Is Different for Various Cities and Regions The cost how much money can i make on minimum wage living is the amount a person needs to spend to cover basic expenses such as housing, food, taxes, and healthcare. In a long-term budget, you can plan for expenses that only come up occasionally, such as car repairs or doctor visits, by setting aside a few dollars each week.