Mimimum Wage and Paying the Rent
In the United States, over 3 million people work at or below the federal minimum wage of $7.25. This represents almost 3% of all wage and salary workers. The people earning minimum wage are, by-in-large, whom you would think they are. Fifty percent of them are 16 to 24 years old, and half that number are teenagers. Over 75% of them are white, and half that number are women. Finally, 64% are part-time workers. They work in the jobs you would expect: food prep, cleaning, personal care, sales, manual and unskilled labor. The debate over raising the federal minimum wage is a constant of politics. Recently, however, I saw a new approach to the discussion. I read an article comparing what the minimum wage would have to be to provide monthly income to rent an average two-bedroom home in each state. There were 17 states at the high end of t...