Minimum Wage Updates 6-17-2015
States where minimum wage covers the rent - CBS
For low-income workers, housing costs have become a perfect storm of rising rents and stagnant pay.
Today, there are no U.S. states where minimum-wage workers can afford to rent an average one-bedroom apartment, according to a recent study from the National Low Income Housing Coalition. Two-bedroom apartments, which many Americans would consider necessary for families, are even farther out of reach, the study found.
Nationally, the average wage needed to rent a one-bedroom unit is $15.50 per hour, which jumps to $19.25 per hour for a two-bedroom apartment. That's far above the federal minimum wage of $7.25 per hour, creating a dilemma for many workers and their families: bunk up with other renters, find substandard housing at below-market rates, or even become homeless.
LA County Proposal to match LA City Minimum Wage:
LA County Supervisor Sheila Kuehl proposes same minimum wage hike as city of L.A. - LA Times
“My main concern has been trying to help people rise out of poverty,” Kuehl said. “The truth is our wages have not been keeping up with the rising cost of rent, housing, even food. It’s very difficult to live in L.A. these days.”
States where workers are the most damaged by low minimum wages:
States where minimum wage covers the rent - CBS
The state with the biggest gap, however, is Hawaii. The Aloha State, which is known for its high cost of living, has an average renter wage of $14.49 per hour, yet the average wage needed to rent a two-bedroom apartment is $31.61.
Following Hawaii, the states with the largest gaps between rental prices and wages are: Maryland, Vermont, New Jersey, Connecticut, California, New Hampshire, Massachusetts, Maine and Rhode Island.
Chicago Billionaire Supports Minimum Wage Increases
Minimum wage hike won't hurt too much: Billionaire - MSN
An all-of-the-above approach to helping struggling Americans needs to be undertaken, including raising the minimum wage, billionaire Chicago businessman JB Pritzker said on Tuesday.
"The people at the bottom who are working but working at relatively low wages need some help," argued the co-founder of the venture and private capital Pritzker Group during a CNBC "Squawk Box" interview.
"It takes so long for the folks who are earning minimum wage to finally see a little bit of a rise ... that it takes a little nudge, I think, from government," he added. "You see it city-by-city. You're going to see it on a national level. And I think it's well overdue."