What is the difference between a minimum wage and a living wage?
The difference between a minimum wage and a living wage is that a minimum wage is the lowest wage that an employer is legally allowed to pay an employee and is usually determined at the state or federal level. In Hawaii, the minimum wage is $10.10 per hour. A living wage, however, is the minimum hourly wage needed for an individual to cover their basic costs of living and provide for themselves and their families. In Hawaii, the living wage is estimated to be $15.65 per hour. Minimum wage is determined by the government and is intended to ensure that employees are paid a fair wage for their work. It is often a starting point for employees and can be adjusted over time depending on the cost of living in a particular area. A living wage, on the other hand, is not set by the government. Rather, it is calculated based on the estimated cost of basic necessities like housing, food, medical care, transportation, and other basic necessities. A living wage is meant to provide employees with a basic standard of living. In Hawaii, the minimum wage is lower than the estimated living wage, meaning that many employees in Hawaii are paid wages that are below the necessary amount for them to support themselves and their families. This can lead to economic hardship, as employees are not able to cover basic expenses on the wages they earn.
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