$33 an hour may not seem like much money but when added up over a full year, it turns out to be a solid salary. As of November 2020, the federal minimum wage had been raised to $7.25 but this hourly rate is much higher than that, amounting to a salary of $68,640 a year.
For many people, hourly wages in the range of $30 to $40 an hour could mean an income of between $62,400 and $83,200 for a full year. That’s more than double the federal minimum wage, so even part-time jobs at this rate could be enough for many people to make a living.
This hourly rate could be seen as a source of encouragement for those seeking career advancement. It also means that someone could move from minimum wage to a higher income in just two years if they worked a full-time job at $33 an hour.
The figure could also be seen as a benchmark for those negotiating salaries or careers. If a job pays less than $33 an hour, those employed in the field may want to ask for a raise or search for a better-paying job.
The amount in question could also be used to measure the effectiveness of certain economic policies. It could be used to gauge the impact of living wage measures and those aimed at helping low-income workers boost their incomes.
Overall, $33 an hour is far from a tremendous income but it’s enough to make a decent living when added up over the course of a full year. Hence, there is much to be said for how such an hourly rate could become an important benchmark for individuals and policy makers alike.
$33 an hour may not seem like much money but when added up over a full year, it turns out to be a solid salary. As of November 2020, the federal minimum wage had been raised to $7.25 but this hourly rate is much higher than that, amounting to a salary of $68,640 a year.
For many people, hourly wages in the range of $30 to $40 an hour could mean an income of between $62,400 and $83,200 for a full year. That’s more than double the federal minimum wage, so even part-time jobs at this rate could be enough for many people to make a living.
This hourly rate could be seen as a source of encouragement for those seeking career advancement. It also means that someone could move from minimum wage to a higher income in just two years if they worked a full-time job at $33 an hour.
The figure could also be seen as a benchmark for those negotiating salaries or careers. If a job pays less than $33 an hour, those employed in the field may want to ask for a raise or search for a better-paying job.
The amount in question could also be used to measure the effectiveness of certain economic policies. It could be used to gauge the impact of living wage measures and those aimed at helping low-income workers boost their incomes.
Overall, $33 an hour is far from a tremendous income but it’s enough to make a decent living when added up over the course of a full year. Hence, there is much to be said for how such an hourly rate could become an important benchmark for individuals and policy makers alike.