That's $40k (gross) a year assuming the job is full time, which it won't be. Unless you're living in an extremely low CoL area that's a meager existence that pays for rent, food, bills, health insurance and not much else. You might be able to afford a house someday at that wage.

Where else would you put the minimum if not "scraping by?" If businesses literally can't afford it then maybe government should step in and pay the difference.