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The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). [78] [7] By 1950 the minimum wage had risen to 75¢ per hour. [82] [7] The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
The federal minimum wage has remained stuck at $7.25 since 2009, the longest period without an increase since the Fair Labor Standards Act first established a minimum wage in 1938.
The federal minimum has held at $7.25 an hour since 2009, but an increasing number of states are upping their base pay for workers. ... Meanwhile, the federal minimum wage of $7.25 an hour hasn't ...
The Fair Minimum Wage Act of 2007 [3] is a US Act of Congress that amended the Fair Labor Standards Act of 1938 to gradually raise the federal minimum wage from $5.15 per hour to $7.25 per hour. It was signed into law on May 25, 2007 as part of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations ...
Looking ahead: New Hampshire’s minimum wage hasn’t changed since 2009, when the federal minimum wage hit $7.25. In 2020, Gov. Chris Sununu vetoed a bill that would have raised the minimum wage ...
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. [208] 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. [209]
The federal minimum wage is currently at $7.25 — money that has stayed the same since 2009. Read More: The Salary Needed To Afford America’s 50 Biggest Cities Check Out: 9 Things You Must Do ...
The Fair Minimum Wage Act of 2007 has set the minimum wage at $7.25 per hour since 2009. The real value of the federal minimum wage in 2022 dollars has decreased by 46% since its inflation-adjusted peak in February 1968.