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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]
Then, GOBankingRates used the Bureau of Labor Statistics’ CPI inflation calculator to find the federal minimum wage in 2024 dollars for all years. All data was collected on and up to date as of ...
1939. Minimum wage: $0.30 In 2024 money: $6.63 The very next year, 24as the Depression was finally drawing to a close, the minimum wage was raised by a nickel an hour to $0.30, where it would ...
Although minimum wage is higher now than it was years ago, it isn't keeping up with the cost of living. Look at how minimum wage has changed over the years.
Minimum wage rates vary greatly across many different jurisdictions, not only in setting a particular amount of money—for example $7.25 per hour ($14,500 per year) under certain US state laws (or $2.13 for employees who receive tips, which is known as the tipped minimum wage), $16.28 per hour in the U.S. state of Washington, [29] or £11.44 ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
The beginning of 2024 brought good news to certain minimum wage workers, as 22 states and 38 cities and counties raised their own minimums above the federal minimum. As CBS News reported, the pay...
FRED version of this chart updated through December 2019 = Description: English: This is a history of minimum wage increases under the 1938 act. This is current as of ...