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Try to figure out what a living wage would be be in Chicago in 2013. Specifically, Food is the emphasis of the , Are t - Assignment Example

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Living Wage in Chicago 2013 Name Institutional Affiliation Living Wage in Chicago 2013 Living wage is defined as “the hourly rate that an individual must earn to support their family, if they are the sole provider and are working full-time (2080 hours per year)” (Glasmeier, 2013)…
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Try to figure out what a living wage would be be in Chicago in 2013. Specifically, Food is the emphasis of the , Are t

Download file to see previous pages... There are two assumptions that were provided: (1) living wage would be computed for a single mother with two dependent children below 18 years old; and (2) living wage to be computed for a married couple with two dependent children, also below 18 years of age. Computations for each component would presented in the table below, and hereby expounded in the following sections: Single Mother, 2 Children Married Couple, 2 Children Housing $1,231 $1,231 Child care $746 0 Food $540.50 $729.50 Transportation $686 $737 Health care $1,404 $1,466 Taxes $639 $574 Other Necessities $549.17 $607.76 Monthly Total $5,795.67 $5,345.26 Annual Total $69,548.04 $64,143.12 Hourly total compensation per adult (2013) $33.44 $30.84 Housing: The data for housing was derived from the U.S. Department of Housing and Urban Development official website and uses the 2013 Fair Market Rent Documentation System (U.S. Department of Housing and Urban Development, 2013). According to the site, for three bedroom units, the cost is $1,231. It is therefore assumed that for a single mother with two children and also for the married couple with two children, three rooms would be needed. ...
For a married couple, it could be presumed that one spouse would take care of the children, while the other one makes a living. When one researched on the average weekly rates for full time child care in a licensed home within the Cook County, Chicago area, it was disclosed that the maximum amount to be reimbursed by the Illinois Child Care Assistance Program for full-time care is $137.75 per week for a total of $551 per month (Illinois Action for Children, 2013). Food: To compute for the food expenses, the data provided by the U.S. Department of Agriculture Food Plans: Cost of Food at Home at Four Levels was used. Therefore, for the single mother with two children, it was computed that they would spend as much as $108.10 per week on a thrifty plan. Since it was stipulated that the low cost food plan should be 25% more than the thrifty food plan which makes the total low cost food plan would be about $135.13 per week. Concurrently, for the married couple with two children, it was computed that the total low cost food plan would reach about $729.50 per week. When compared to the computations provided for Cook County, Chicago by the Massachusetts Institute of Chicago (2013), one computation is almost similar as their computed food costs for a single mother with two children amounted to $536; while that of a married couple with two children, the food expenses totaled $713 (Glasmeier, 2013). Transportation: The average transportation expenses for the single mother with two children were revealed to be as much as $686 per month; while for the married couple with two children, total transportation expenses would reach $737 per month (Glasmeier, 2013). Health Care: The health care expenses for a single mother with two children within the Chicago area is $1,404 ...Download file to see next pagesRead More
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