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Living wage

Living wage Definition

Living wage refers to the hourly wage that one deems necessary for a person to achieve a basic standard of living. In the context of developed countries such as the United Kingdom or Switzerland, this standard is generally considered to require that a person working forty hours a week, with no additional income, should be able to afford housing, food, utilities, transportation, health care, and a certain amount of recreation. This concept differs from the minimum wage because the latter is set by law and may exceed or fail to meet the requirements of a living wage.





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