Bank Negara Malaysia: What is Living Wage and why is different with minimum wage?

Bank Negara says this about Living Wage. “A living wage is an income level needed for a household to afford a minimum acceptable living standard, which includes the ability to participate in society, the opportunity for personal and family development, and freedom from severe financial stress.” Do take a look at the image below. For the full study, refer here. Very comprehensive report by Eilyn Chong and Farina Adam Khong Source: bnm.gov.my