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

A minimum wage is the legal minimum that employers are required to pay their workers for a certain job. In North Carolina, the current minimum wage rate is $7.25 per hour. The minimum wage rate increases when Congress passes a law or if the state legislature enacts a higher rate. A living wage, on the other hand, is the amount of money a person must earn in order to cover the cost of basic needs. It is based on the cost of living in a particular area. This wage rate is often higher than the minimum wage rate and is intended to provide a minimum level of financial security for workers. In North Carolina, the living wage is estimated to be $14.09 per hour for a family of four. The main difference between a minimum wage and a living wage is that the minimum wage is the legal minimum required by law, while the living wage is the wage rate necessary to support a person or family. The minimum wage rate is usually lower than the living wage because it is determined by the state or federal government and does not take into account the cost of living in a particular area. A living wage is usually higher than the minimum wage rate and takes into account the cost of living in a particular area.

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

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