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Family budgets

What Constitutes A Living Wage?

February 4, 2024 Elise Gould, Zane Mokhiber and Katherine deCourcey, Economic Policy Institute. , , ,
More than 20 years ago, the Economic Policy Institute created the first version of the Family Budget Calculator (FBC). Since then, we have continuously made improvements to the methodology and updated it regularly with the latest data available. This interactive tool estimates the income needed for families of different sizes and compositions to afford basic necessities in different parts of the country. EPI’s family budget tool is frequently used to gauge the adequacy of labor earnings. It has been cited by living-wage advocates, private employers, academics, and policymakers who are looking for comprehensive measures of economic security.

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