living wage(redirected from Basic wage)
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living wage,the hourly wage that, at a minimum, supports a standard of living above the poverty level in a given locality. It differs from the minimum wageminimum wage,
lowest wage legally permitted in an industry or in a government or other organization. The goal in establishing minimum wages has been to assure wage earners a standard of living above the lowest permitted by health and decency.
..... Click the link for more information. , which often provides a less than adequate standard of livingstandard of living,
level of consumption that an individual, group, or nation has achieved. The evaluation of a standard of living is relative, depending upon the judgment of the observer as to what constitutes a high or a low scale.
..... Click the link for more information. . Usually exceeding both federal and state minimum wages, the living wage of any locality is normally set by a law that requires that it be paid to a specific set of workers, often those employed by businesses that have local government contracts or that receive government economic development subsidies. The recipient of a living wage stipend is generally a full-time worker who is expected to support a family (often of four). In normal circumstances, the higher the cost of livingcost of living,
amount of money needed to buy the goods and services necessary to maintain a specified standard of living. The cost of living is closely tied to rates of inflation and deflation.
..... Click the link for more information. in a given locality, the higher the living wage. Living-wage laws are in effect in several European countries, e.g., Great Britain and Switzerland. In the United States, living-wage bills had been enacted by more than 140 cities and counties by 2007. That year Maryland became the first U.S. state to require the payment of a living wage by nearly all profit-making employers with state contracts.
See studies R. Pollin and S. Luce (2000), Z. Madjd-Sadjadi (2001), D. Neumark (2002), D. M. Figart et al. (2002) and as ed. (2004), and S. Luce (2004).
a wage adequate to permit a wage earner to live and support a family in reasonable comfort