29 Facts About Living wage

Living wage is defined as the minimum income necessary for a worker to meet their basic needs.

The goal of a living wage is to allow a worker to afford a basic but decent standard of living through employment without government subsidies.

In economic terms, a minimum Living wage is a price floor for labor created by a legal threshold, rather than a reservation Living wage created by price discovery.

The living wage is one possible guideline for determining a target price floor, while a minimum wage is a policy to enforce a chosen price floor.

Living wage advocates have further defined a living wage as the wage equivalent to the poverty line for a family of four.

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Living wage campaigns came about partially as a response to Reaganomics and Thatcherism in the US and UK, respectively, which shifted macroeconomic policy towards neoliberalism.

The concept of a just Living wage was related to that of just prices, which were those that allowed everyone access to necessities.

Living wage reasoned that as wages and rents rise, as a result of higher productivity, societal growth will occur thus increasing the quality of life for the greater part of its members.

Different ideas on a living wage have been advanced by modern campaigns that have pushed for localities to adopt them.

Supporters of a living wage have argued that a wage is more than just compensation for labour.

Living wage considers a living wage to be a right that all labourers are entitled to from the 'common bounty of nature'.

Living wage argues that private ownership of resources precludes access to them by others who would need them to maintain themselves.

Living wage's argument goes beyond that a wage should provide mere subsistence but that it should provide humans with the capabilities to 'develop within reasonable limits all [their] faculties, physical, intellectual, moral and spiritual.

Living wage sees the need for citizens to be connected to their community, and thus, sees individual and communal interests as inseparably bound.

Donald Stabile argues for a living wage based on moral economic thought and its related themes of sustainability, capability and externality.

The tie-in with a living wage is the idea that income is an important, though not exclusive, means for capabilities.

Those in favor of living wage oriented policies assert that it is important to acknowledge the region-specific costs that is severely lacking in minimum wage measurements.

Municipal regulation of Living wage levels began in some towns in the British Isles in 1524.

Study carried out in Hamilton, Canada by Zeng and Honig indicated that living wage workers have higher affective commitment and lower turnover intention.

The London Living Wage was developed in 2008 when Trust for London awarded a grant of over £1 million for campaigning, research and an employer accreditation scheme.

Ed Miliband, the leader of the Labour Party in opposition from 2010 until 2015, supported a living wage and proposed tax breaks for employers who adopted it.

The living wage will get indexed so that it keeps up with cost of living increases.

Community Coalition for a Living Wage was launched in 1997 in Miami, Florida, as a partnership between local anti-poverty and labor organizations Catalyst Miami, Legal Services of Greater Miami, and the South Florida AFL–CIO.

Criticisms against the implementation living wage laws have taken similar forms to those against minimum wage.

Rehn and Meidner instead proposed a higher minimum Living wage would induce productivity growth from structural change, reorganizing workers into different jobs across employers with different microeconomic labor demands, rather than reducing aggregate demand for labor.

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Contention that often impedes the progression of a living wage ordinance has to do with the scope; it is controversial whether it should apply to an individual or an entire family as wages can be nuanced when there are multiple types of households among a state.

Potential solutions to the complexity of a living wage ordinance include a “specific employer provision, ” which seeks to evaluate the pros and cons to a living wage on a company to company basis.

The voluntary undertaking of a living wage is criticized as impossible due to the competitive advantage other businesses in the same market would have over the one adopting a living wage.

Concept of a living wage based on its definition as a family wage has been criticized by some for emphasizing the role of men as breadwinners.