Residents (or future ones) of central Florida who want to cover their basic needs without much trouble should earn $33 an hour, according to economist Rafael Botero.
The expert explained that, given the cost of living in the state, earning less could hurt your pockets even more in the midst of inflation.
“If we are realistic, real estate in Florida, during the pandemic, has gone up so much and rents are so expensive, that you cannot earn less than $32 or $33 an hour so that, under the rules, you can pay rent, essential goods and services, health, education and savings,” Botero said in an interview.
The state minimum in Florida is $11/hr with projections to increase by $1 each year until reaching $15/hr, as established by law.
For many, this means saving in the midst of an inflation that has crippled the US economy.
“It is time to do what suddenly the American economy does not command; Control our consumption. Look for prices to demand less or in a more rational way to help inflation come down,” Botero said.
