The Orange County Living Wage (OCLW) announced Friday that it has updated its living wage for 2023 in a statement obtained by WRAL News.
The board announced that the living wage for hourly workers in 2023 will not be $16.60 per hour, but $15.10 for employers paying at least half of their employees’ health insurance premiums.
OCLW adjusts the living wage annually to match rent increases.
“A person who earns $7.35 an hour and works a 40-hour week all year long would make a total of $15,080,” said OCLW Director Susan Romaine. ”
OCLW uses the Universal Living Wage Formula to determine the living wage. The formula is based on U.S. Department of Housing and Urban Development (HUD) standards, and no more than his 30% of an individual’s gross income should be devoted to housing.
To calculate wages, OCLW used the average cost of a one-bedroom apartment in four counties, including Alamance, Chatham, Durham, and Orange counties.
“The $16.60 hourly wage is the minimum a worker needs to live near the county to provide necessary services to hospitals, schools, police, fire departments, grocery stores, restaurants, pharmacies, non-profit organizations, etc. It reflects wages,” says Romaine.
Copyright 2023 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.