Federal Minimum Wage History Chart, Everything You Need To Know About The Minimum Wage Vox
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National minimum wage 2020 uk london. Find the minimum wage in your state. This new federal minimum wage results in an income of 1160 a month or close to 14000 a year. Minimum wage rates most often change based on the cpi consumer price index.
Scroll over cnns interactive chart to see the minimum wage by year through history. Minimum wages in the united states averaged 313 usdhour from 1938 until 2020 reaching an all time high of 725 usdhour in 2009 and a record low of 025 usdhour in 1938. The chart below indicates the history of both federal and state minimum wage rate changes up to the upcoming rate changes in 2020.
History of federal minimum wage rates under the fair labor standards act 1938 2009. Many states also have minimum wage laws. 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.
Minimum wages in the united states remained unchanged at 725 usdhour in 2020 from 725 usdhour in 2019. The federal minimum wage peaks in purchasing power at 160 per hour the equivalent of 1153 in 2019 dollars. With the minimum wage was higher relative to living costs luce says.
Employers are required to abide by minimum wage laws as determined by the state federal laws. The flsa was generally only applicable to employees involved in interstate commerce either directly or through the creation of goods. This page provides united states minimum wages actual values historical data forecast chart statistics.
Annual federal minimum wage rates adjusted for inflation from 1955 to 2015. The measure affects 29 states while other states already have an equal or superior minimum wage note that employers are required to pay whichever is the highest. The us minimum wage which started at 25 cents in 1938 has been raised by congress 22 times.
In cases where an employee is subject to both the state and federal minimum wage laws the employee is entitled to the higher of the two minimum wages.
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