Pay Rises, Purchasing Power Declines of Federal Minimum Wage


by Anthony Sibley (AJ) on Sep 20, 2013 | Views: 93 | Score: 2
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, cepr.net
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Anthony Sibley (AJ)
Anthony Sibley (AJ) on Sep 20, 2013 7:33 AM said:

The value of the federal minimum-wage in 2011-dollars was $8.02 in the 1970s. After 1979, the minimum declined markedly. Even after a 41% increase in 2009, the current value is 12.1% less than its 1967-value. State legislation has set a standard for higher minimum-wage rates linked to cost-of-living increases. It is past time for the federal government to follow suit.

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