Living Wage - Upping The Ante
Lee Hwok Aun
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A week ago Bank Negara sparked a public debate by introducing the concept of “living wage”, where the conversation has been largely dominated by the question of a “minimum wage”. Bank Negara defines a living wage as that which is necessary for an individual or a household to participate in society, with opportunities for personal and family development and freedom over severe financial stress. In its 2017 Annual Report, the central bank said based on a study in 2016, the living wage in Kuala Lumpur ranges from RM2,700 a month for an individual, to RM6,500 monthly for a couple with two children.
Presented by: Sharaad Kuttan
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Tags: Bank Negara, Living Wage, Minimum Wage, Standard of Living