NX – Economics

One I forgot to post yesterday…

Mapping the Gap Between Minimum Wage and Cost of Living in US Counties and Cities – CityLab

Numbers matter here. They’re talking about what it takes to cover the costs of a family of four (mother, father, two children), not an individual. I’m not surprised that there’s nowhere in the U.S. where the cost of living is so low that a minimum wage job would let you support a family.

Take a look at the hourly wages they show are needed to support a family of four. Do the quick and dirty math and multiply that by 2000 (approx work hours per year) to get an annual income figure. They show San Francisco at over $30/hr, which would be $60,000/year.

But they do wrap up the article with numbers for single people, and the answer is that there’s only one small corner of the country where you could get by. Not an encouraging situation. If capitalism works better than non-capitalist systems, why is this the case?

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