Tuesday, December 13, 2011

Self-sufficiency wages are considerably higher than most other benchmarks

To put the Self-Sufficiency Standard for Colorado 2011 in context, it is useful to compare it to other commonly used measures of income adequacy. In the graph below, a comparison is made between the Logan County Self-Sufficiency Standard for one adult, one preschooler, and one school-age child and the following income benchmarks for three-person families:
  • Temporary Assistance for Needy Families (TANF), Supplemental Nutrition Assistance Program (SNAP, formerly the Food Stamp Program), and WIC (Women, Infants and Children);
  • The Federal Poverty Level (FPL) for a family of three;
  • The Colorado minimum wage; and
  • The HUD median family income limits for a family of three in Logan County.
However, none of the benchmarks are as specific as the Self-Sufficiency Standard in terms of age and number of children and/or geographic location. Note that this set of benchmarks is not meant to show how a family would move from a lower income to economic self-sufficiency. Rather, the concept of self-sufficiency assumes a progression that takes place over time. As indicated in the fourth bar from the left the graph, the Self-Sufficiency Wage for this family type in Logan County is $36,931 per year.

Learn more by checking out the Self-Sufficiency Standard for Colorado 2011, a measurement of the true cost of making ends meet for Colorado families.

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