This wage only applies to companies with annual gross receipts over $314,000. According to data from the Massachusetts Institute of Technology, a single adult would need to make $10.15 an hour, or $21,112 a year, in Mahoning or Trumbull county to pay for bare necessities, assuming the person lives in a studio apartment, has a low-cost food plan and drives a used car or uses cheap public transportation. A family of two adults and two children with one of the parents working would need that person to make $22.57, or $46,945 a year.
“The living wage is the minimum income standard that, if met, draws a very fine line between the financial independence of the working poor and the need to seek out public assistance or suffer consistent and severe housing and food insecurity.”
“Most studies show that incremental increases in minimum wage do not have adverse impacts in terms of unemployment rates and do not cause inflation, which are the biggest concerns associated with increasing minimum wage.”
When the minimum wage increases throughout a geographic region rather than one city, it’s less likely to impact local businesses in a negative way, Sumell explained. For example, if only Youngstown increased minimum wage, businesses there might be inclined to move to a neighboring municipality to decrease costs.