A living wage guarantees that a person working a 40-hour week makes enough to pay for essentials: housing, food, utilities, transport, health care, and some recreation. A living wage differs from the minimum wage in that the latter is set by law and may fail to cover basics.
According to the The Northwest Area Foundation, in 2008 Park County's median household income* was $39,705. The median household income for Montana in 2008 was $43,792. Park County is ranked 23rd out of the 56 counties in Montana.
The graphs below were created using a basic family budget calculator available on the Economic Policy Institute website. There is additional information and calculations available on that site if you are interested.
*Median household income is the level of income at which half the population has lower incomes and half has higher incomes. Here, we provide information on real median household income, which means the data have been adjusted for inflation.
Source: Economic Policy Institute and the Northwest Area Foundation
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