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

The difference between a minimum wage and a living wage is complicated but important to understand. A minimum wage is the lowest amount that an employee can legally be paid for their work. In the state of West Virginia, the minimum wage is $8.75 per hour, although certain areas may opt to pay more. This wage is meant to be a basic floor for all workers, regardless of their profession or job duties. A living wage, however, is different. This is calculated based on the cost of living expenses in a given area and is intended to provide a wage that will allow a person to meet their basic needs. A living wage will generally be higher than the minimum wage but will vary from place to place. In West Virginia, the living wage is estimated to be around $11.36 per hour. This wage is meant to help people afford rent, medical care, and other necessities so that they can support themselves and their families. In short, a minimum wage is a legal requirement for all workers and is meant to provide a basic level of protection and security for those at the lowest end of the pay scale. A living wage, on the other hand, is based on cost of living estimates and is intended to ensure that employees can afford basic necessities. Together, these two wages serve as a way to protect workers and ensure they are paid a fair wage for their contributions.

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

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