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Cost of a basic but decent life for a family [1] [2]. A living wage is defined as the minimum income necessary for a worker to meet their basic needs. [3] This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity.
Wyoming. Living Wage: $68,563 Wyoming is one of a few states where income exceeds the living wage. With a median income of $72,495, the average Wyoming resident has enough to get by.
While the cost of living in New Hampshire drives up its living wage to nearly $68,000 a year, the state also has a lot of residents with higher incomes, leading to a median salary of $76,768 a year.
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above.
Average wage in the United States was $69,392 in 2020. [1] Median income per person in the U.S. was $42,800 in 2019. [ 2 ] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings.
Kentucky’s minimum wage is $7.25, and $2.13 for tipped workers. Here’s what MIT says is a living wage in Fayette County.
Annual wages of $30,160; $45,240; $75,400; $150,800 and $1.5M correspond to 2, 3, 5, 10 and 100 times minimum wage respectively. [17] Income distribution among all those above age 25 and those between 25 and 64 with earnings. [18] [19] 25+ statistics will not add up exactly to 100% due to the unemployment rate.
Median wage Mean wage Mean annual Food preparation and serving related occupations 11,438,550 $8.59 $9.72 $20,220 Farming, fishing, and forestry occupations 438,490 $9.34 $11.32 $23,560 Personal care and service occupations 3,437,520 $9.82 $11.59 $24,120 Building and grounds cleaning and maintenance occupations 4,429,870 $10.52 $11.72 $24,370