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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.
Wage gains exceeded inflation in 2023, with real (inflation-adjusted) hourly earnings for all employees increasing 0.8% from December 2022 to December 2023. [42] The inflation rate measured vs. one year earlier was 6.4% in January 2023 and 3.1% in December as the inflation rate slowed. [43]
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 ...
Minimum wage schedules set pay by occupation; for example, the minimum wage for domestic workers, for example, was EC$4.5 per hour, while that for a security guard was EC$8 per hour. [10] 40 2017 Guatemala: Q 81.87 (US$10.9) per day for agricultural and nonagricultural work and Q 74.89 (US$10) per day for work in export-sector regime factories ...
Despite persistent inflation, the federal minimum wage remains $7.25 per hour. More than 13 years have passed since Congress last raised the federal minimum wage in 2009, the longest such stretch ...
The Missouri ballot proposal aimed to increase the minimum wage from $8.60 to $12.00 by 2023 and eliminate the tip credit allowance. [17] The Michigan proposal sought to raise the minimum wage from $7.70 to $12.00 by 2022 for everyone except government workers. [18] Both ballots were voted on at the 6 November 2018 elections. [17]
With the payment increase in 2023, Forbes said 8.7% more will equate to an average added monthly benefit of $144 for individuals and $240 extra for couples filing jointly.
In the United States workers generally must be paid no less than the statutory minimum wage.As of July 2009, the federal government mandates a nationwide minimum wage level of $7.25 per hour, while some states and municipalities have set minimum wage levels higher than the federal level, with the highest state minimum wage being $9.47 per hour in Washington as of January 1, 2015. [5]