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Using the 50-30-20 budget rule, which allocates 50% of income for necessities, the study doubled the total annual expenditure on necessities in order to determine the “living wage” in each state.
Since housing and other necessities make up 50% of a living wage, it stands to reason that states with higher housing costs require more money to earn a living wage. ... Living Wages in All 50 ...
Using the 50-30-20 budget rule, which allocates 50% of income for necessities, the study doubled the total annual expenditure on necessities in order to determine the "living wage" in each state ...
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.
See minimum wage in the United States for much more info, including detailed state-by-state and city-by-city breakdown of the facts and numbers, and more info on US territories. Some of the sources list many more exceptions to the main rate in each state (both lower or higher than the statewide rate). [ 5 ]
The first table contains a list of U.S. states and territories by annual median income. The second table contains a list of U.S. states and territories by annual mean wage. Information from an unknown source; 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]
Here’s a look at the living wage a couple needs in all 50 states. Sean Pavone / Getty Images/iStockphoto. Alabama. Income needed: $72,253. Discover: 30 Best Games That Pay Real Money in 2024
This is a list of U.S. states, territories, and Washington, D.C. by income.Data is given according to the 2023 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands, for which the data comes from 2010, as ACS does not operate in these areas.