Us Federal Minimum Wage 1968, Minimum Wage Hasn T Been Raised For The Longest Time In History
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Federal minimum wage was 160hour the cpi was 3490 in july 1968 and was 251598 in july 2018.
California minimum wage law labor code section. By the end of that year the rate had dropped to 34 percent. 1968 united states minimum wage in todays dollars. The table of federal minimum wage rates under the fair labor standards act 1938 2009 is also available in a pdf version.
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. In 1968 the federal government actually had two minimum wages. As of january 2020 there were 29 states and dc with a minimum wage higher than the federal minimum.
Since july 24 2009 the federal minimum wage is 725 per hour. The current unemployment rate with a much lower inflation adjusted minimum wage is 73 percent. April 17 2013 may 22 2014 anya.
Territories such as american samoa are exempt. Employers may pay tipped labor a minimum of 213. Employers generally have to pay workers the highest minimum wage prescribed by federal state and local law.
The year of the data. Labor law and a range of state and local laws. This is a cleaned data set of us state and federal minimum wages from 1968 to 2017 including 2018 equivalency values.
In the year 1968 the united states minimum wage was 160. To offset the impact of inflation congress has raised the minimum wage 22 times since it was first introduced in 1938. With the minimum wage was higher relative to living costs luce says.
The federal minimum wage peaks in purchasing power at 160 per hour the equivalent of 1153 in 2019 dollars. In the meantime we welcome your feedback to help us enhance the experience. The minimum wage in the united states is set by us.
The values in the dataset are as follows. According to the chart the real federal minimum wage peaked in 1968 at 854 in 2014 dollars. In 1968 the us.
Some types of labor are also exempt. Inflation calculator in. In february 1968 when the minimum wage of 1074 per hour in todays dollars took effect the unemployment rate was 38 percent.
The 725 an hour minimum wage last set in 2009 has already lost 135 percent of its buying power.
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