How Much Has Minimum Wage Increased Since 2010 Although the real dollar minimum wage in 1970 was only 1 60 U S dollars when expressed in nominal 2024 dollars this increases to 13 05 U S dollars This is a significant difference from the
That s down from 392 000 in 2019 And while many states have taken the initiative to increase the minimum wage into their own hands twenty US states still only require employers to pay 7 25 an The table of federal minimum wage rates under the Fair Labor Standards Act 1938 2009 is also available in a PDF Version In order to view and or print PDF documents you must have a PDF viewer e g Adobe Acrobat Reader v5 or later available on your workstation
How Much Has Minimum Wage Increased Since 2010
How Much Has Minimum Wage Increased Since 2010
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The last increase to the minimum wage was in 2009 when it was set at the current rate Accounting for inflation this value was decreased quite a bit For sake of comparison we ve converted all of the minimum wage rates to 1996 dollars the year Infoplease hit the web based on the Department of Labor s Consumer Price Index 2010 7 25 5 The current level at 7 25 an hour was set in 2009 Cities and states have the option of setting their own minimum wages As of January 2019 29 states had a minimum wage rate above the federal
The federal minimum hourly wage is just 7 25 and has not increased since 2009 The Raise the Wage Act of 2023 introduced in the U S House of Representatives and U S Senate on July 25 2023 would gradually raise the federal minimum wage to 17 an hour by 2028 In total 30 states and the District of Columbia have a minimum wage above Since the last federal minimum wage hike to 7 25 an hour starting July 24 2009 the cost of living has increased 20 while the price of essentials such as housing and health care have
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Graph and download economic data for Federal Minimum Wage Rate under the Federal Fair Labor Standards Act STTMINWGFG from 1968 to 2024 about minimum wage federal wages labor rate and USA Since 1938 the U S federal government has established that workers are entitled to a base hourly wage Which workers receive that minimum and how much has remained a political issue
The federal minimum wage has not risen since 2009 but that hasn t stopped the cost of living continuing to rise over the past 12 years leading to higher prices for essential goods and services Analysis by the UK Low Pay Commission suggests wage growth has been faster for people paid slightly above the minimum wage In particular between 2019 and 2022 when the minimum wage rose to 9
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How Much Has Minimum Wage Increased Since 2010 - The last increase to the minimum wage was in 2009 when it was set at the current rate Accounting for inflation this value was decreased quite a bit For sake of comparison we ve converted all of the minimum wage rates to 1996 dollars the year Infoplease hit the web based on the Department of Labor s Consumer Price Index 2010 7 25 5