SOC 105 Lecture Notes - Lecture 3: Living Wage
Document Summary
Poverty and economic inequality: basics of social stratification. Homelessness increased: among middle class families, slow recovery. Unemployment- different measures: definition of unemployment in the usa, people are unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Living wage: minimum wage, government mandated wage to afford basic necessities and prevent workers living in poverty. 9/3/15: minimum wage is failing to match inflation, living wage, the wage needed to cover basic family expenses (basic need budget) plus all relevant taxes (1) basic needs budget- food, child care, insurance premiums, transportation, ect. Productivity the overall value in the economy(profit margin) 1. lack of basic necessities(food, shelter, clothing, ect. : relative poverty. Is now updated each year based on the cpi. 2: 2015 poverty level: ,250 for a family of four, the face of poverty, women, children, blacks, and latinos.
