Pay Rises, Purchasing Power Declines of Federal Minimum Wage


by Anthony Sibley (AJ) on Jul 11, 2013 | Views: 90 | Score: 4
Contemporary Dollar Amount2011 Dollar Value
19671.48.25
19792.98.38
19893.355.87
19964.756.78
20075.856.35
20117.257.25
In US Dollars
Sources: epi.org
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Anthony Sibley (AJ)
Anthony Sibley (AJ) on Jul 11, 2013 11:55 AM said:

The real value of the federal minimum wage in 2011 dollars was $7.91 in the 1960s, $8.02 in the 1970s. Since 1979, the minimum declined markedly. Even after a 41% increase in 2009, the first since 1995, the current value is 12.1% less than its 1967 value. A higher wage would disproportionately benefit women, and address growing income inequality.

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