What is defined as a wage sufficient to cover all elements of living for a worker's family?

The concept of a wage sufficient to cover all elements of living for a worker's family is best represented by the term "Living wage." A living wage is calculated based on the cost of living in a specific area and aims to ensure that workers can afford basic necessities such as food, housing, healthcare, and education for themselves and their families.

This definition highlights the living wage's fundamental purpose: to provide workers with an income level that meets the basic standard of living in their community, thereby reducing poverty and promoting economic security. Unlike minimum wage, which is often set by law and might not reflect the true cost of living, the living wage takes a more comprehensive view of what is necessary for a decent standard of living.

While "local living wage" may seem fitting, it typically refers to a living wage adjusted for a specific geographic area, making it a narrower concept than the overall living wage. The term "fair wage" speaks to equity in compensation but does not specifically address the sufficiency of income to cover living costs like the living wage does. Thus, "Living wage" accurately encapsulates the core idea of a wage that enables workers to meet the necessary costs for their families.