Did you know that Bill Clinton, the 42nd president of the United States, wasn’t born in Little Rock, Arkansas? Clinton was actually born in Hope, Arkansas, which is a small town about 100 miles southwest of Little Rock. The Cheesedog, or a hotdog with cheese inside of it, was created in Little Rock in 1956. Little Rock was actually called “Arkopolis,” briefly in 1921. And Little Rock’s Big Dam Bridge (yes, for real) is the longest cycling and pedestrian-only bridge in the United States. If you are planning to relocate to Little Rock, it might help to know these things (as a conversation icebreaker anyway). However, the most important thing you should know is the minimum wage in Little Rock.
The Minimum Wage in Little Rock
Now, I started this article out by sharing some whimsical facts about the city of Little Rock, but I did it as an information icebreaker.
Moving to a new city is a big undertaking and it isn’t one that you should do on a whim. You are essentially transplanting your life to a new city. If you have a family, then moving to a new city can be a very daunting and anxiety-inducing process as well.
Before you consider moving to a new city, reassess your personal finances. How much money do you have saved? Do you have enough money to tide you over until you find work?
Have you begun researching the local job market in the city you plan on relocating to?
The minimum wage in Little Rock is $10 per hour but will rise to $11 per hour on January 1, 2021.
Is that enough for you and your family to live on in a new city? What you should also keep in mind is the cost of living in Little Rock, Arkansas.
Living Wage
The minimum wage in Little Rock is a state-mandated minimum payment amount for employees. Certain employees, like independent contractors, are not necessarily entitled to a minimum wage.
However, a minimum wage is not necessarily the same as a living wage.
A living wage is a salary you need to make to live comfortably in a city. A minimum wage, the salary you legally make, and a living wage, the salary you need to live comfortably, are not the same thing.
In Little Rock, the living wage for an individual is $11.18 per hour or about $23,200 annually.
If you are a single parent with three children, then you need to make at least $33 per hour.
Two working parents with three children in Little Rock would need to make at least $18 per hour to sustain a livable wage.
Higher Minimum Wages
Now, unless you can really adjust to a new budget based on the minimum wage in Little Rock, then maybe you should consider your options.
Here are some cities with higher minimum wages:
- New York City – $15.25
- San Francisco – $16.07
- San Jose – $15.25
- Seattle – $16.39
- Washington, D.C. – $15
However, just remember that the living wage in these cities are relatively higher because the cost of living is also higher.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.
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