Thursday, April 6, 2017

Can you afford to live there?

From GoBanking:

7 comments:

  1. This map resonated with me because when we did the exercise where we marked where we wanted to live, I chose California along with some other people. But realistically, I cannot afford to live in a place like San Francisco, CA or Oakland, CA.

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  2. It is interesting looking at this map and considering that the federal minimum wage is only $7.25 per hour. Furthermore, many states have laws that prevent cities from setting their own minimum wage, despite the fact that it is clear that the cost of living is not uniform within a state.

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  3. I agree with Zoe's comment. The federal minimum wage is $7.25 per hour, even though states by states the minimum wage rate varies. I am still shocked by the high expenditure of cities like San Francisco and San Jose.

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  4. Federal minimum wage, in many places, does not provide adequate income to support even one person working full time. This seems a major flaw within federal law.

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  5. This comment has been removed by the author.

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  6. A person working full-time on federal minimum wage doesn't even make half as much as is required to live in the marked states. Is there a way to raise real wages without inflating the economy?

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