Tags: Minimum Wage | minimum wage | Cleveland | Ohio

What's The Difference Between Minimum Wage and Living Wage in Cleveland?

By    |   Thursday, 11 Jun 2015 01:08 AM

Minimum wage in Cleveland is based on the size of the company, and the size of the company determines what that wage will be.

For companies with gross receipts of $297,000 or more, minimum wage in 2015 was $8.10 per hour; smaller companies default to the federal minimum wage of $7.25, according to the U.S. Department of Labor.

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But a living-wage calculator created by the Massachusetts Institute of Technology found an adult would need to earn $9.61 per hour to support one person. With one child, a living wage would be $20.17 per hour in Cleveland, while with two, it hits $24.42.

Minimum wage marks the lowest pay or compensation an employee can receive by law for performing a certain job. Living wage calculates what funds are needed for everyday needs, based on a number of factors including marriage, children, debt, cost-of-living and expenses like healthcare.

To reach a living wage in Cleveland, a single adult would need to earn $19,995 annually before taxes, MIT said.

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A bill was introduced in the Ohio legislature to increase the minimum wage to $10.10, which if passed would occur in 2016, Public News Service said.

Housing costs are low in Cleveland, with a median home price set at $116,000, a drop-off of more than 10 percent. The cost of living there is 9.5 percent below the national average, Forbes magazine said, with unemployment around 6.8 percent.

Cleveland is lagging behind other parts of the country in regaining jobs lost in the recession, and job growth is expected to be about 1.9 percent in 2015, according to the Cleveland Plain Dealer. Quoting a forecast by the U.S. Conference of Mayors, the newspaper said it's expected to take until 2019 to get jobs in the city to a pre-recession level.

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Minimum wage in Cleveland is based on the size of the company, and the size of the company determines what that wage will be.
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2015-08-11
Thursday, 11 Jun 2015 01:08 AM
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