Week 8 Discussion 2
Discussion Qusetion 2
Virginia. MIT calculates that a living wage in Virginia is $10.54 per hour for one adult, which is $3.29 per hour above the minimum wage of $7.25 per hour. The tool calculates a living wage of living wage of $19.49 for two adults and one child.
Virginia – Living Wage: $11.93; Poverty Wage: $7. 25
New York – Living Wage: $24.69; Poverty Wage: $7.00
In my opinion the difference in the living wages of Virginia and New York is due to following reasons:-
• The difference in the development level in infrastructure, industries and political influence.
• The unemployment rate is additionally one reason for distinction in the living wage rate living.
Despite the fact that there are convincing moral, ethical and business case contentions to pay a living wage, campaigners for this face considerable hindrances. Great cost weights on organizations in key parts, for example, retail and gadgets imply that production network costs will keep on being crushed, with direct ramifications for wages. The multifaceted nature of cutting edge supply chains make it troublesome for organizations, even those with complete observing and reviewing procedures, to know the amount of laborers are really being paid (Miller, D., 2013).
In the urban areas that have passed a living-wage law, concentrates so far demonstrate that these laws have included somewhat more than 1 percent to the aggregate generation cost for generally temporary workers. Occupations have not been lost. Trepidation of occupation migration is decreased by the way that fundamental city administration employments can’t promptly be moved to another city. Likewise better-paid specialists are more beneficial. Higher wages enhance morale and this reduces truancy and turnover, all of which are costly business elements.
Miller, D. (2013). “Towards Sustainable Labour Costing in UK Fashion Retail”. doi:10.2139/ssrn.2212100
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