How Much Money Do You Make Full Time 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 2024 Federal minimum wage rate is 7 25 per hour Making use of our United States Minimum Wage Calculator We make it easy for you to understand the minimum wage in any given state Use our calculator Choose the state from the drop down list You can also enter your hours worked per week if you wish optional According to the federal government the hourly minimum wage for employees has been at 7 25 since 2009 The federal and state minimum wage protects employees from unlawful low compensation The FLSA exempts employees minimum wages from any collection procedures
How Much Money Do You Make Full Time Minimum Wage
How Much Money Do You Make Full Time Minimum Wage
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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 The salary calculator converts your salary to equivalent pay frequencies including hourly daily weekly bi weekly monthly semi monthly quarterly and yearly Customize the salary calculator by including or excluding unpaid time such as vacation hours or holidays Time Worked Hours Per Day Days Per Week Starting Pay Hourly Pay
At present 29 states and Washington DC have minimum wages above 7 25 which take precedence over the federal requirement Adjusted for inflation the federal minimum wage was at its highest in 1979 when it was 2 90 an hour at the time but equivalent to 10 47 in 2019 dollars If a worker earning the federal minimum wage in 2019 worked 40 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
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A single mother with two children earning the federal minimum wage of 7 25 per hour needs to work 252 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 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 About 865 000 workers had wages below the federal minimum
In 2019 82 3 million workers age 16 and older in the United States were paid at hourly rates representing 58 1 percent of all wage and salary workers Among those paid by the hour 392 000 workers earned exactly the prevailing federal minimum wage of 7 25 per hour About 1 2 million had wages below the federal minimum Use SmartAsset s paycheck calculator to calculate your take home pay per paycheck for both salary and hourly jobs after taking into account federal state and local taxes Overview of Federal Taxes
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How Much Money Do You Make Full Time Minimum Wage - For example California s minimum wage is 15 50 per hour However the minimum wage in Emeryville a suburb of San Francisco is 18 67 per hour In these areas employees are entitled to the rate that benefits them the most If a state s minimum wage is lower than the 7 25 federal minimum employers must pay the federal rate