Recent Housing Report Reveals That Full-Time Minimum Wage Employees Are Unable To Afford Rent Anywhere In The U.S.

#Roommates, evidently the struggles for minimal wage staff proceed to worsen, as a brand new report reveals a really unlucky actuality. In accordance with a brand new housing report, full-time minimum wage staff are unable to afford lease anyplace in the US—which is the most recent indication {that a} minimal wage improve is lengthy overdue.

@CNBC reviews, the Nationwide Low Revenue Housing Coalition recently released its annual “Out Of Attain” report and the findings for minimal wage staff are eye-opening. The report confirmed that full-time minimal wage staff within the U.S. aren’t financially in a position to afford a two-bedroom condo in any state within the nation. The identical report additionally discovered that in 93% of counties in the US, full-time minimal wage staff couldn’t afford a one-bedroom condo both. These figures additional translate to the common employee needing to work virtually 97 hours every week to have the ability to afford correct housing, which is extra working hours than that of two full-time jobs.

In the event you’re questioning how the NLIHC got here up with these numbers, their report defines affordability as “the hourly wage a full-time employee should earn to spend not more than 30% of their revenue on lease,”  which signifies that in 2021, full-time minimal wage staff have to earn a minimum of $24.90 an hour for a two-bedroom condo and $20.40 an hour for a one-bedroom. That’s a staggering improve from $23.96 for a two-bedroom and $19.56 for a one-bedroom simply final yr.  The present minimal wage common is $18.78 per hour, over $6 much less of what’s required to have the ability to afford a two-bedroom condo.

Moreover, there may be additionally a disturbing racial ingredient to the housing report, because it said that Black and Latino staff spend extra on their lease at over 30%, however make far lower than their White counterparts, who solely spend 25% of their revenue on housing.

These new components are mentioned to have been made worse on account of thousands and thousands of full-time minimal wage staff shedding their jobs through the COVID-19 pandemic.

 

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Recent Housing Report Reveals That Full-Time Minimum Wage Employees Are Unable To Afford Rent Anywhere In The U.S.

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