What Was The Federal Minimum Wage In 1972 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
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 1972 In 1972 the 1 60 federal minimum wage would be worth 10 24 today 1973 In the final year of the 1 60 minimum wage it s value was the equivalent to 9 88 today
What Was The Federal Minimum Wage In 1972
What Was The Federal Minimum Wage In 1972
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Solved In 1967 The U S Minimum Wage Was 1 40 Per Hour In Chegg
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1968 The federal minimum wage peaks in purchasing power at 1 60 per hour the equivalent of 11 53 in 2019 dollars With the minimum wage was higher relative to living costs Luce says A higher federal minimum wage would provide much needed relief to many Black workers with nearly 30 of Black workers benefiting if the federal minimum wage is raised to 17 by 2028 In short the Raise the Wage Act of 2023 would provide a long overdue boost in wages and administer a stronger more equitable wage floor for states to follow
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 The minimum wage increased to 2 00 an hour in 1974 2 10 in 1975 and 2 30 in 1976 for all except farm workers whose minimum initially rose to 1 60 Parity with nonfarm workers was reached at 2 30 with the 1977 amendments The 1977 amendments by eliminating the separate lower minimum for large agricultural employers although retaining
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Federal and State Minimum Wage Rates Annual Add to Data List Add to Graph Expand All Collapse All Please select a date range 1968 2024 Dollars per Hour Name Period Value Preceding Period Year Ago from Period Federal Minimum Wage Rate 2024 7 25 As of January 2021 30 states and the District of Columbia have enacted minimum wage rates above the federal rate of 7 25 per hour 17 In 2021 these rates range from 8 75 per hour in Montana and West Virginia to 13 69 in Washington State and 15 00 in Washington DC
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 The federal minimum wage is currently at 7 25 a number that has stayed the same since 2009 But even with no recent changes from the federal government things appear to be moving in the right
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What Was The Federal Minimum Wage In 1972 - The federal minimum wage was raised to 5 85 an hour effective July 4 2007 In today s dollars that s equal to 7 24 In 2008 the median sales price of newly constructed homes sold in the US