Basic Economic SecurityPaul Marx

July 28, 2014

Vocabulary

Living Wage“wage for basic needs”

“daily concerns”food, housing (rent & utilities), clothing, personal items, house hold items?, telephone?,

transportation?

Wage Providing Basic Economic Security“wage for basic needs and developing assets”

“lifelong concerns”Basic needs (above) plus healthcare, emergency savings, retirement savings, education

savings?, home ownership?

Economic Security Stats*(persons lacking wages the provide Economic Security)

25% of Full Time working adults 45% of US residents

– Up from 38% in 2007

– In household: 39% adults; 55%children 26% of adults in 2 worker families 70% single mothers; 45% single fathers 61% Black hh; 65% Hispanic hh 56% HS graduate; 22% 4 year degree

*Resource: Living Below the Line: Economic Insecurity and America's Families, WOW Family Economic Security Project, 2013

Public Resources

Wider Opportunities for Women (WOW)

– Initial Economic Security Report - 2010

– Family Economic Insecurity - 2013 Penn State/MIT

– Living Wage Study (Beaufort County, SC) Economic Policy Institute

– What Families Need to Get By (2013)

Public Resources

Wider Opportunities for Women (WOW)

– Initial Basic Economic Security Tables - 2010

– Economic Insecurity Report - 2013 Penn State/MIT

– Living Wage Study (Beaufort County, SC) Economic Policy Institute

– What Families Need to Get By (2013)

Public Calculators

Wider Opportunities for Women (WOW)

– Economic Security Data Base (WOW) Economic Policy Institute

– Family Budget Calculator (Secure, Modest Income)

Penn State/MIT

– Living Wage Calculation - Franklin County, VA

– Living Wage Calculation - Bedford County, VA

Today's Assignment

Personal Experience

Determine a Wage

Needed to Provide a Single Person with

Basic Economic Security

Thank You