what is the living wage 2023

The living wage in 2023 varies based on the cost of living and taxes in different locations. According to the Massachusetts Institute of Technologys Living Wage Calculator, the living wage in the United States is $25.02 per hour, or $104,077.70 per year for a family of four (two working adults, two children) . However, the livable wage by state varies, with Connecticut having a livable wage of $19.00 per hour, and the District of Columbia having the highest livable wage for an individual at $20.80 per hour. In addition, the 2023 Buncombe County Living Wage Rate is $20.10/hr. The federal minimum hourly wage is currently $7.25, but the Raise the Wage Act of 2023, if passed, would gradually raise the federal minimum wage to $17 an hour by 2028.