Us Federal Minimum Wage Adjusted For Inflation, Adjusted For Inflation The Federal Minimum Wage Is Worth Less Than 50 Years Ago
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Us federal minimum wage in dollars per hour adjusted for inflation m2 adjusted.
Minimum wage in texas 2000. It is worth considering what the world would look like if this were the case. Proponents of a higher minimum wage want to change all this by locking in wage increases for future years. Index to price inflation to guarantee the.
When president franklin d. Adjusted for inflation that would be worth about 445 today. The minimum wage reached its inflation adjusted historic high in 1968 when it was raised from 140 to 160 per hour.
True the minimum wage had its strongest purchasing power in 1968 equivalent to 1165 an hour in 2018 dollars. There are two common ways to achieve this. Forty cents in 1945 is equal to 570 in todays dollars.
Americas minimum wage was raised to 725 per hour on july 24 2009. It remained the same until january 25 1950. Raising the minimum wage has been attacked on at least two fronts.
Roosevelt signed americas first federal minimum wage into law in 1938 it was 25 cents per hour. The minimum wage was instituted during the tail end of the great depression. Adjusted for inflation the first federal minimum wage was around 450 but a year later it increased to an inflation adjusted 540 an hour.
Interesting thing is that incomes minimum wage households income senator income are growing slower than m2 money supply rate while debts goverment debt households debt are growing faster than m2 money supply rate. The federal minimum wage was raised to 040 an hour effective october 24 1945. Adjusted for inflation the federal minimum wage is worth less than 50 years ago published thu jul 21 2016 1225 pm edt updated mon jul 25 2016 445 pm edt kate rogers atkaterogers.
The argument that minimum wages increase inflation. Unlike almost all other federal benchmarks the minimum wage is not updated for inflation.
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