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

The difference between a minimum wage job and a living wage job can be found in the amount of money a worker earns. A minimum wage job is a job where an employee’s wages meet or exceed the minimum wage established by the state of Virginia, which is currently $7.25 an hour. This means that an employee who works 40 hours a week at minimum wage will earn $290 a week or approximately $1,160 a month before taxes. A living wage job is a job in which the wages paid are enough to cover the cost of basic needs, such as housing, food, transportation, and clothing for an employee and their family. A living wage in Virginia is $14.08 an hour, which is over double the current minimum wage. This means that an employee working 40 hours a week at a living wage will earn $563 a week or approximately $2,252 a month before taxes, which is enough for an employee and their family to cover their basic needs more easily than with minimum wage. Overall, the main difference between a minimum wage job and a living wage job is the amount of money a worker earns. A minimum wage job pays an hourly rate that is enough for an employee to live, but a living wage job pays an hourly rate that is enough for an employee and their family to comfortably meet their basic needs.

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

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