Us Minimum Wage History By Year, Raising The Federal Minimum Wage To 15 By 2024 Would Lift Pay For Nearly 40 Million Workers Economic Policy Institute

This page provides united states minimum wages actual values historical data forecast chart statistics.

New york city minimum wage history. Minimum wages in the united states remained unchanged at 725 usdhour in 2020 from 725 usdhour in 2019. 040 jan 25 1950. The minimum wage in the united states is set by us.

New york and california legislators pass laws. The current federal minimum wage is 725 per hour which leads to a full time minimum wage of 15080 per year. As of january 2020 there were 29 states and dc with a minimum wage higher than the federal minimum.

Scroll over cnns interactive chart to see the minimum wage by year through history. House passed a bill that would raise the minimum wage to 15 per hour by 2025 which could increase the incomes of 17 milli on to 27 million minimum wage workers according. 030 oct 24 1945.

100 sep 3 1961. Its been 11 years since the last federal minimum wage hike the longest span the baseline wage has gone without an increase since it began in 1938. Minimum wage value of the minimum wage.

125 sep 3 1964 115 sep 3 1965 125 feb 1 1967. Weekly 600 jobless benefit set to expire 0316. Year current dollars constant 1996 dollars 1 year current dollars constant 1996 dollars 1 year.

Annual federal minimum wage rates adjusted for inflation from 1955 to 2015 browse. Labor law and a range of state and local laws. Minimum hourly wage of workers in jobs first covered by.

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. In 2012 the poverty threshold for a single person was 11945 and 22283 for a family of four with two children. Effective date 1938 act 1 1961 amendments 2 1966 and subsequent amendments 3.

Back then the minimum hourly earnings for us. Thanks to legislation passed two years earlier the federal minimum wage rises to 725. Eight states raise minimum wage above federal 2016.

The us minimum wage which started at 25 cents in 1938 has been raised by congress 22 times. Employers generally have to pay workers the highest minimum wage prescribed by federal state and local law. An individual who works minimum wage for a full year will make enough to live above the poverty line.

100 sep 3 1963. 075 mar 1 1956. Adjusted for inflation the minimum wage has been above the current rate for large parts of the 20th century with 1968 marking the peak.

In july 2019 the us.