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The federal minimum wage has been stuck at $7.25 since 2009, not even close to the buying power it once brought workers — which peaked all the way back in the 1960s.
The federal minimum wage is currently at $7.25 — money that has stayed the same since 2009. Read More: The Salary Needed To Afford America’s 50 Biggest Cities Check Out: 9 Things You Must Do ...
The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). [76] [5] By 1950 the minimum wage had risen to 75¢ per hour. [81] [5] The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
This provision amended the FLSA to provide for the increase of the federal minimum wage by an incremental plan, culminating in a minimum wage of $7.25 per hour by July 24, 2009. Further, American territories including American Samoa and Puerto Rico were to adopt the mainland minimum wage in a series of incremental increases.
The Fair Minimum Wage Act of 2007 [3] is a US Act of Congress that amended the Fair Labor Standards Act of 1938 to gradually raise the federal minimum wage from $5.15 per hour to $7.25 per hour. It was signed into law on May 25, 2007 as part of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations ...
The federal minimum wage was last raised in July 2009. At the time, $7.25 was the equivalent of $10.58 adjusted for inflation today, according to the Bureau of Labor Statistics’ inflation ...
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.
The federal minimum wage is paid to a shrinking number of US workers ... Overall, the legal pay floor in the US hasn’t budged since 2009. It’s the longest period without a countrywide increase ...