Executive Summary
A living wage is rooted in the belief that individuals and families should not just survive, but live with dignity and participate in their community. Differing from the minimum wage, a living wage carefully considers common expenses people pay to live and the wage necessary to cover these expenses for themselves and/or their families and to reach basic financial security.
It is a calculation of the hourly rate at which a household can meet a modest standard of living, once government transfers have been added to the household’s income and deductions have been subtracted.
In 2024, the living wage is $20.85, a decrease of $1.40 from the previous year.
While inflation has increased significantly over the past year, expenses for the living wage reference families have gone down. The largest decreases this year were seen in clothing and footwear, due to changes in shopping patterns, and childcare, due to the gradual implementation of $10/day childcare. At the same time, the reference living wage families saw an increase in government benefits they are eligible for. These trends worked together to lower the living wage.
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