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One recent study shows $15 an hour isn't enough to secure affordable housing in most U.S. states. Nationally, someone would need to make $17.90 an hour to rent a one-bedroom apartment or $22.10 an hour to cover a two-bedroom home, according to analysis from the National Low Income Housing Coalition.
The current federal minimum wage of $7.25 an hour “does not provide a living wage for most American families,” according to the MIT analysis. But even at $15 an hour, life doesn't get a lot easier. Two adults who work 40 hours a week each and earn $15 an hour make $62,400 before taxes.
The national living wage, the statutory national minimum wage for those aged 25 and over, will increase 4.9% from 1 April 2019, from £7.83 to £8.21.
The living wage in the United States is $16.07 per hour in 2017, before taxes for a family of four (two working adults, two children), compared to $15.84 in 2016. The minimum wage does not provide a living wage for most American families.
1)If you're not already living on $15 an hour, try it for one month and then share your experience. At $15 an hour and a maximum of 40 hours per week, that's $600 per week, $2400 per month, or $28,800 per year.
After all, it can be hard to cover the cost of living in many places if you're only paid the federal minimum wage of $7.25 per hour. But you don't have to resign yourself to living a bare-bones existence if your wages are low it's possible to live comfortably on minimum wage and enjoy it, too.
$15 an hour is how much per year? If you make $15 per hour, your Yearly salary would be $29,250. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 37.5 hours a week.
Assuming 40 hours a week, that equals 2,080 hours in a year. Your hourly wage of 15 dollars would end up being about $31,200 per year in salary.
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