Surviving on minimum wage used to be a difficult process however it is getting even more difficult.
When you add up the cost of just living not to mention trying to survive, the first question is how can it be done at all.
If you are lucky enough to get a job and keep it, you are likely to find that trying to just survive can be an almost impossible task.
The average weekly hours a full time employee worked was in the past about 40 to 45 hours this has changed it is now between 28 to 32 hours meaning that now those of the population that were unfortunate enough to be working and trying to survive in a marketplace where everything is more expensive are in a situation where they cannot easily provide food and shelter.
Sure there are some things you can do to try to help you and your family but those things are not much help in a world where the cost of feeding your family has tripled over the last five years.
Simply stated what used to cost one dollar five years ago now is averaging almost three times as much, what this means is that consumers are having to make poor choices in food and that means the same old thing it did in the past.
So really no matter how much you make these days your money does not go as far and with a reduction in the number of hours that most of these provide it restricts these effected families even more.
What is causing all these problems?
There are a lot of things in play when considering what creates a poor economic outcome for those that are barely surviving on 28 hours a week but the most intensive issue is inflation.
The cost of surviving in this economy has risen at a high rate, food, housing, transportation, insurance if you have a car and can afford the payments.
When you add it all up it just does not add up to a situation that can be managed.
Lets do some math, 28 hours at $7.25 an hour comes to about $203.00 per week.
That is before taxes…
|federal income tax||$-18.47|
|social security tax||$23.24|
|state income tax||$0.00|
|city income tax||$0.00|
|final pay check||$133.80|
How long do you think you could survive on this amount of money…