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

The difference between minimum wage and living wage is a key factor for employees in Arizona. Minimum wage is an amount that is set by the federal or state government, and it is the lowest amount an employer is legally allowed to pay for services, regardless of the industry. All employers must comply with the federal or state minimum wage and are able to pay employees at a higher rate. In the state of Arizona, the minimum wage is currently $12.00 per hour. On the other hand, a living wage is the minimum wage that is necessary for a worker to meet their basic needs, such as shelter, food, and medical care. This is based on the cost of living in their area, and it is higher than the federal or state mandated minimum wage. In Arizona, the living wage is currently estimated to be around $16.00 an hour. This means that even if an employer pays minimum wage, employees may still not be able to make ends meet. Overall, the main difference between a minimum wage and living wage is that a living wage is based on the cost of living and can be much higher than the minimum wage set by the government. This is why it is important for employers to ensure that their employees are being paid a wage that is adequate for their area.

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

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