What is the difference between minimum wage and living wage?
An example of an AI chatbot conversation about minimum wage vs living wage.
What is the difference between minimum wage and living wage?
Minimum wage is the lowest legal pay for workers, while living wage is the income needed to cover basic living expenses.
Why is living wage important?
Living wage is important because it ensures that workers can afford basic necessities like food, housing, and healthcare.
How is living wage calculated?
Living wage is typically calculated based on the cost of living in a specific area, including housing, food, and other essentials.
Are there any countries that have implemented a living wage?
Yes, several countries have implemented living wage policies, including some regions in the UK, Australia, and New Zealand.
What are the arguments for and against raising the minimum wage?
Arguments for raising minimum wage include reducing poverty and boosting the economy, while arguments against it often cite potential job losses.
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