The exact figure would be an economic question, not a theological one. There are different ways in which one might reasonable calculate the living wage. One might use the figures of the Department of labor, which are used to calculate the poverty level. Another reasonable approach might be to price the cost of rent, food, clothing, etc. There are many ways that government intervenes in the marketplace.
Different economists have different analyses.
Every economic decision and institution must be judged in light of whether or protects or undermines the dignity of the human person .We judge any economic system by what it does for and to people and how it permits all to participate in it. The economy should serve people, not the other way around. But this economy has given us so many wonderful things. Maybe we shouldn t tinker with it. This economy has done many, many wonderful things.