How Much Does The Average Person Make A Week On Minimum Wage In 2021 76 1 million workers age 16 and older in the United States were paid at hourly rates representing 55 8 percent of all wage and salary workers Among those paid by the hour 181 000 workers earned exactly the prevailing federal minimum wage of 7 25 per hour About 910 000 workers had wages below the federal minimum
Young people are more likely to earn the minimum wage than older workers While 2 9 of hourly workers ages 16 to 24 earn 7 25 an hour or less 1 1 of hourly workers ages 25 to 34 earn the minimum wage Less than 1 of hourly workers older than 35 years old earn the minimum wage We developed the Living Wage Calculator to help individuals communities employers and others estimate the local wage rate that a full time worker requires to cover the costs of their family s basic needs where they live Explore the living wage in your county metro area or state for 12 different family types below The data was last
How Much Does The Average Person Make A Week On Minimum Wage
How Much Does The Average Person Make A Week On Minimum Wage
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So 7 25 40 290 The total federal weekly minimum wage is therefore 290 2 Monthly minimum wage Employees calculate the monthly minimum wage by multiplying the weekly minimum wage by the number of weeks in a month Therefore 290 4 333 1 256 57 The total federal monthly minimum wage is 1 256 57 3 Characteristics of minimum wage workers 2020 In 2020 73 3 million workers age 16 and older in the United States were paid at hourly rates representing 55 5 percent of all wage and salary workers Among those paid by the hour 247 000 workers earned exactly the prevailing federal minimum wage of 7 25 per hour
The annual earnings for a full time minimum wage worker is 15 080 at the current federal minimum wage of 7 25 Full time work means working 2 080 hours each year which is 40 hours each week However many states have their own minimum wages including 29 that are currently higher than the federal rate Minimum wage by state by year In the United States the minimum wage is set by U S labor law and a range of state and local laws 4 The first federal minimum wage was instituted in the National Industrial Recovery Act of 1933 signed into law by President Franklin D Roosevelt but later found to be unconstitutional 5 In 1938 the Fair Labor Standards Act established it at 25 an hour
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The living wage varies based on the cost of living and taxes where families live The following box and whisker plot indicates the income that four families with two working adults and two children in the four census regions need to get by Families in the North 111 384 80 and West 107 383 90 have higher average costs of living and A single mother with two children earning the federal minimum wage of 7 25 per hour needs to work 235 hours per week the equivalent of almost six full time minimum wage jobs to make a living wage Across all family sizes the living wage exceeds the poverty threshold often used to identify needs
On average a renter in search of a modest two bedroom home who is seeking to stay within the 30 income window needs to earn 24 90 per hour the study says That figure is more than 3 4 times The minimum wage in California means that a full time worker can expect to earn the following sums as a minimum before tax These assume a 40 hour working week 640 00 per working week 2 773 33 per month 33 280 00 per annum These figures are approximate
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How Much Does The Average Person Make A Week On Minimum Wage - Characteristics of minimum wage workers 2021 In 2021 76 1 million workers age 16 and older in the United States About 3 percent of part time workers people who usually work fewer than 35 hours per week were paid the federal minimum wage or less compared with about 1 percent of full time workers See table 1 Occupation Among major