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New Report: Living Wage $19.08/Hour for CT Singles

Alliance for a Just Society
 

A new report from the Alliance for a Just Society - Families Out of Balance - says that Connecticut’s living wage is $19.08 an hour – more than twice the minimum wage – for a single adult. For a single adult with two children, the living wage jumps to $40.48 an hour.

From the report, a living wage is the amount “needed to meet basic needs and maintain some ability to deal with emergencies and plan ahead.” It takes into account the income needed to pay for the following: housing and utilities; transportation; food; household, clothing and personal items; healthcare; state and federal taxes; savings; and childcare for households with children.

The Families Out of Balance report also found that student debt for Connecticut has risen 6% since 2008; the average student graduates from college with $27,816 in loans. The report said the average credit card debt in the state is $5,617, and Connecticut’s average outstanding mortgage debt is $204,206.

Nationally, the report said:

  • Low-income households cannot handle their debt loads, and this group carries a disproportionate debt.
  • In low-income households, there’s no financial room for emergencies, even though.
  • Nine of 10 low-income households make debt payments a priority.

Click here to access the report. 

 
 

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