What is the difference between a minimum wage and a living wage?

The difference between a minimum wage and a living wage is an important one to understand when considering labor laws in Florida. Minimum wage is the lowest level of pay that an employer can legally pay an employee. This is set at the federal and state level and is based on the size of the employer, location, and industry. For instance, the minimum wage in Florida is $8.56 per hour as of 2021. A living wage differs from a minimum wage because it is the wage that is necessary for a person to afford basic needs such as housing, food, and other essentials. It is based on the cost of living in an area and is adjusted to account for factors such as the number of dependents and cost of childcare. The living wage in Florida is estimated to be $12.21 per hour. It is important to note that not all employers are required to pay the living wage. Furthermore, an employee may be legally paid the minimum wage and still not be earning enough to support themselves or their family. Therefore, in order for workers in Florida to receive fair and adequate pay for the work they do, labor laws must be in place to ensure protections such as living wage requirements for employers.

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What is the difference between a minimum wage and a living wage?

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