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 concept when it comes to understanding labor laws in North Carolina. Minimum wage refers to the lowest amount an employer is legally allowed to pay its employees. This amount is regulated by the state and is currently set at $7.25 per hour in North Carolina. A living wage, on the other hand, is the amount that an individual must earn to cover their basic living expenses, such as housing, food, transportation, health care, and other necessities. This amount is calculated by organizations such as the North Carolina Justice Center and varies by county and household size. The main difference between a minimum wage and a living wage is that a minimum wage is just the legal minimum that an employer is required to pay, while a living wage is the amount an individual needs to earn to survive. The living wage in North Carolina is currently much higher than the minimum wage, at an average of $13.01 per hour. This means that to earn a living wage, individuals typically need to work multiple jobs and/or longer hours. Overall, it is important to understand the difference between a minimum wage and a living wage in order to fully understand the laws pertaining to labor in North Carolina. A minimum wage is the legal minimum that an employer is required to pay, while a living wage is an amount based on an individual’s expenses that is necessary to cover basic living costs.

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

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