Alternatives Federal Credit Union Announces 2013 Living Wage
Ithaca,
NY – How much does it cost for a single person working full-time to
live in Tompkins County? According to the Alternatives Federal Credit
Union bi-annual Living Wage Study, it is $26,242.21 a year or
$12.62/hour.
Leni Hochman, Chief Operations Officer, oversees the study. Hochman asserts, "Paying a Living Wage has a ripple effect in the community. When people are paid enough to support themselves, they no longer need to rely on public assistance in the form of housing subsidies, medical assistance, food stamps, and welfare, which are paid for in everyone’s taxes. People earning a Living Wage pay more taxes and buy more goods and services in the local economy. Recent economic research concludes that there is little or no job reduction associated with wage increases, and the benefits far outweigh any negative consequences."
Alternatives’ Board of Directors voted unanimously to raise wages to the new Living Wage level, continuing its commitment to its employees and as a role model for the community.
Leni Hochman, Chief Operations Officer, oversees the study. Hochman asserts, "Paying a Living Wage has a ripple effect in the community. When people are paid enough to support themselves, they no longer need to rely on public assistance in the form of housing subsidies, medical assistance, food stamps, and welfare, which are paid for in everyone’s taxes. People earning a Living Wage pay more taxes and buy more goods and services in the local economy. Recent economic research concludes that there is little or no job reduction associated with wage increases, and the benefits far outweigh any negative consequences."
Alternatives’ Board of Directors voted unanimously to raise wages to the new Living Wage level, continuing its commitment to its employees and as a role model for the community.
