The number of hours you need to work at Minimum Wage, just to afford Rent at a Fair Market Rate.
By the way: May First. Call in Sick. Get out in the Streets.
The Whole Fucking Thing is Coming Down.
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Listen, guy. Do no misrepresent the numbers. That is what they call fudging. To say that "in no state can a minimum wage worker afford a two-bedroom apartment a fair market rent working 40 hours per week" is just wrong. The image above has been altered from its original state. Not a very clean alteration either. The original info graphic depicted "hourly wage a worker must earn to afford a two-bedroom apartment at fair market value at 30 percent of income." That's 30% of income. A VERY important thing to include in the version of the info graphic you have posted on your blog is the 30% of income. In reality people rent all the time at 40% 50% 60% their income or higher. In EVERY state a minimum wage worker working 40 hours per week can afford a 2 bedroom apartment at fair market rent. (Even though they would only need a one bedroom.)
ReplyDeleteThere is no economic advisor in the world who would recommend spending more than 30% of your income on housing.
ReplyDeleteSo your point is kind of pointless.
Nope, Louise. Using California as an example, the minimum wage is $8 per hour, slightly higher than the federal minimum. Still, apartments infrequently list below $1000 a month in urban centers. At minimum wage, that equates to 125 hours worked with the entire $8 per hour being dedicated to the rent - and that's without any taxes, utilities, necessary to keep said apartment functioning.
ReplyDelete(PS: that 125 hours works out to a good 70% of their income)