Federal Minimum Wage History By Year, Https Fas Org Sgp Crs Misc R43792 Pdf
Federal minimum wage history by year Indeed recently is being sought by consumers around us, perhaps one of you. People are now accustomed to using the internet in gadgets to view image and video information for inspiration, and according to the name of this post I will discuss about Federal Minimum Wage History By Year.
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This new federal minimum wage results in an income of 1160 a month or close to 14000 a year.
New york state minimum wage 2021. Today a worker earning the federal minimum wage receives 728 an hour before taxes. The table of federal minimum wage rates under the fair labor standards act 1938 2009 is also available in a pdf version. As of january 2020 there were 29 states and dc with a minimum wage higher than the federal minimum.
Employers generally have to pay workers the highest minimum wage prescribed by federal state and local law. Full time earnings for minimum wage earners are estimated based on a 40 hour work week and 50 working weeks per year. Annual federal minimum wage rates adjusted for inflation from 1955 to 2015.
In 2012 the poverty threshold for a single person was 11945 and 22283 for a family of four with two children. Though increased several times its relative value has gradually declined in the subsequent 41 years. The history of the federal minimum wage is one of political struggle and labor conflict and it actually begins in europe at least a century before the law was passed in the united states.
Since july 24 2009 the federal minimum wage is 725 per hour. The us minimum wage which started at 25 cents in 1938 has been raised by congress 22 times. In order to view andor print pdf documents you must have a pdf viewer eg adobe acrobat reader v5 or later available on your workstation.
The highest minimum wage when you adjust for inflation was set in 1979 when it reached a value equivalent to 1095 an hour today. The minimum wage in the united states is set by us. The bill introduced by house democrats in january aims to gradually raise the federal minimum wage to 15 by 2025 more than doubling it from the current rate of 725.
Scroll over cnns interactive chart to see the minimum wage by year through history.
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