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In 2009, the national average price for one gallon of gas was $1.73. Today, gas has skyrocketed to $4.65 per gallon. Yet, the minimum wage across both periods has stayed constant at $7.25 per hour.
However, because of wage inflation the federal government indexes wages so that $35,648.55 earned in year 2004 is exactly the same as $23,753.53 earned in 1994. Those two figures came from the yearly list of National Average Wage indexing series. [1]
The federal minimum wage has been stuck at $7.25 since 2009, ... consumer economy and the higher national standard of living the average American enjoyed. ... federal minimum-wage increase, the ...
As a reference point, the US minimum wage since 2009 has been $7.25 per hour or $15,080 for the 2080 hours in a typical work year. The minimum wage is approximately 25% over the official U.S. government-designated poverty income level for a single person unit (before taxes) and about 63% of the designated poverty level for a family of four ...
A 2018 University of Washington study which investigated the effects of Seattle's minimum wage increases (from $9.50 to $11 in 2015 and then to $13 in 2016) found that while the second wage increase caused hourly wages to grow by 3%, it also caused employers to cut employee hours by 6%, yielding an average decrease of $74 earned per month per ...
During the depths of the recession in 2009, as millions of Americans lost their jobs, homes and life savings, the highest-paid earners in the United States saw their average incomes increase more ...
The national average salary (or national average wage) is the mean salary for the working population of a nation. It is calculated by summing all the annual salaries of all persons in work (surveyed) and dividing the total by the number of workers (surveyed). [ 1 ]
The increase in the minimum wage, which is effective today, is a prime example. The federal minimum wage will The new minimum wage: Will it just increase layoffs?