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And 20 states — including Pennsylvania, New Hampshire, Alabama and Mississippi — still adhere to it. ... The wage then was $1.60, which in today’s dollars would be $14.39. That $1.60 ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
Looking ahead: Georgia’s minimum wage has flatlined at $5.15 since 2001, though it was effectively raised in 2009, when the federal minimum wage reached $7.25. An ambitious effort to raise the ...
In the most recent election, Missouri voted to raise its minimum wage to $15 an hour by 2026, and Alaska voted to hike its minimum to $15 by mid-2027. The last federal minimum increase was in July ...
An increase in the minimum wage is a form of redistribution from higher-income persons (business owners or "capital") to lower income persons (workers or "labor") and therefore should reduce income inequality. The CBO estimated in February 2014 that raising the minimum wage under either scenario described above would improve income inequality.
For example, they look at the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In addition to their own findings, they reanalyzed earlier studies with updated data, generally finding that the older results of a negative employment effect did not hold ...
“This change could make a difference, but those folks need a bump up, too, in other ways.”
In 1938, President Franklin D. Roosevelt signed the Fair Labor Standards Act into law, which introduced the minimum wage at 25 cents per hour. It has increased some since then, but not much. While...