What is the difference between a minimum wage and a living wage?
The main difference between minimum wage and living wage is the amount of money earned. Minimum wage is the lowest legal pay required by law in all states, including Louisiana. This means the minimum wage in Louisiana is $7.25 for non-exempt employees. Living wage, on the other hand, is a wage that is high enough to cover basic necessities, such as food, housing, transportation, and other costs. Living wages can vary by state and even by city or county. For example, the living wage for New Orleans is $13.66, while the living wage for Baton Rouge is $11.45. Minimum wage is seen as a way to help protect workers and ensure that they can make ends meet on their own. However, it is not always enough to cover all of the basic costs of living. Living wage, on the other hand, is designed to give people the wages they need to afford the necessary necessities of life. This is why many states and cities are looking into increasing their minimum wages to better ensure that people are able to make a decent living. Overall, the main difference between minimum wage and living wage is the amount of money earned. Minimum wage is the lowest legal pay required by law, while living wage is a wage that is high enough to cover the basic costs of living.
Related FAQs
What type of records must employers keep in regards to wage and hour laws?What must an employer do in order to comply with wage and hour law?
What are the rules for tip-pooling?
Are employers allowed to pay tipped and non-tipped employees different wages?
What is the difference between a collective bargaining agreement and a wage and hour law?
What are the rules regarding meal and rest breaks?
What is the overtime rate for hourly employees?
What is the difference between a minimum wage and a prevailing wage?
What are the rules for paying commissions to employees?
Are employers allowed to offer flexible working hours?
Related Blog Posts
What is Wage and Hour Law and How Does it Affect Your Business? - July 31, 2023What Employers Need to Know About Wage and Hour Law - August 7, 2023
The Basics of Payroll Law and Compliance - August 14, 2023
Compensating Your Employees - Tips for Wage and Hour Law Compliance - August 21, 2023
Understanding Overtime Rules Under Wage and Hour Law - August 28, 2023