Who lives on $15,080 a year? Someone making the federal minimum wage, that’s who.
The federal minimum wage is $7.25 per hour or $15,080 a year for someone who works 40 hours a week, 52 weeks a year. This is $7, 270 less than the federal poverty level of $22,350 for a family of four, or $3,450 less than the federal poverty level for a family of three. The minimum wage is far from a livable wage and does not provide economic security for hardworking women and men.
Setting a livable federal minimum wage helps women, girls and their families better afford basic necessities, including food, medicine, and clothing for their families and could possibly expand housing, education, and child care options.
The YWCA supports initiatives to increase the income of women, including policies that raise the minimum wage, protect overtime, strengthen equal pay, maintain the earned income tax credit, oppose the privatization of social security, and expand non-traditional training for women from all socioeconomic and racial backgrounds.
Fact Sheet - Minimum Wage