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A bill in New York would raise the state’s minimum wage to $21.25 by 2026, and then adjust it each year going forward for inflation. Right now, minimum wage workers in New York City get paid $15 ...
In the 2010s, an uprising by underpaid fast-food workers led to a national movement for a $15 minimum wage. Today, that movement has led to a push by mainstream Democrats to make that dream a ...
Also, the inflation-adjusted minimum wage. [80] The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022).
Wage growth has since slowed, but the inflation rate has fallen faster, allowing income gains to keep up with rising prices from early 2023 through today. Find Out: The 50 Happiest States in ...
Inflation Adjusted Minimum Wage by Year. Compares minimum wage adjusted for inflation by year. History of Federal Minimum Wage United States Department of Labor Wage and Hour Division. Maps and charts of minimum wage vs. housing costs – National Low Income Housing Coalition (advocacy group).
History of the US federal minimum wage. Lower line is nominal dollars.Top line is inflation-adjusted. [1] [2]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.
Looking ahead: The minimum wage rose to $13.50 last July, and for Portland workers, wages hit $14.75 in 2022; for rural workers, wages jumped $12.50. After that, increases will be tied to inflation.
While the federal minimum wage remains at $7.25 per hour, many states have their own rates. More than half of U.S. states have announced adjustments to their minimum wages in 2023 to help residents...