What is living wage Has the constitution provided fir securing living wage workers? Discuss
Answers
Answer:
Cost of a basic but decent life for a family.[1][2]
A living wage is defined as the minimum income necessary for a worker to meet their basic needs.[3] This is not the same as a subsistence wage, which refers to a biological minimum. Needs are defined to include food, housing, and other essential needs such as clothing. The goal of a living wage is to allow a worker to afford a basic but decent standard of living through employment without government subsidies.[4] Due to the flexible nature of the term "needs", there is not one universally accepted measure of what a living wage is and as such it varies by location and household type.[5] A related concept is that of a family wage – one sufficient to not only support oneself, but also to raise a family.
The living wage differs from the minimum wage in that the latter can fail to meet the requirements for a basic quality of life which leaves the worker to rely on government programs for additional income.[6] Living wages have typically only been adopted in municipalities. In economic terms, the living wage is similar to the minimum wage as it is a price floor for labor.
In the United Kingdom and New Zealand, advocates define a living wage to mean that a person working 40 hours a week, with no additional income, should be able to afford the basics for a modest but decent life, such as, food, shelter, utilities, transport, health care, and child care.[7][8] Living wage advocates have further defined a living wage as the wage equivalent to the poverty line for a family of four. The income would have to allow the family to 'secure food, shelter, clothing, health care, transportation and other necessities of living in modern society'.[9] A definition of a living wage used by the Greater London Authority (GLA) is the threshold wage, calculated as an income of 60% of the median, and an additional 15% to allow for unforeseen events.[5]
Calculating a living wage[1][2]
Living wage campaigns came about partially as a response to Reaganomics and Thatcherism in the US and UK, respectively, which shifted macroeconomic policy towards neoliberalism.[10] A living wage, by increasing the purchasing power of low income workers, is supported by Keynesian and post-Keynesian economics which focuses on stimulating demand in order to improve the state of the economy.[10]
Explaination:
hope it will help you......
A wage means to live on and still elusive for so many workers.
Explanation:
A living wage is a theatrical income level that allows the family to afford
- shelter
- food
- clothes and
- other necessities.
Economy suggested that living wage should be substantial enough to ensure more than 30% of his housing spent.The best idea of the living wage, it effects economically debated. The name critic argues implements a living wage established a wage floor, it harms the economy.
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1.What is living wage has the constitution provided for securing living ...
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