Historical US Minimum Wage Rates by Year
The United States has a long history of setting a minimum wage to ensure that workers are paid fairly for their labor. The minimum wage is the lowest amount that employers can legally pay their employees and is intended to provide a basic standard of living for those who are working.
The first minimum wage laws in the United States were enacted during the Great Depression in the 1930s as part of President Franklin D. Roosevelt’s New Deal program. The Fair Labor Standards Act of 1938 established a federal minimum wage of 25 cents per hour, which was equivalent to about $4.45 in today’s dollars.
Since then, the federal minimum wage has been raised numerous times to keep pace with inflation and rising living costs. As of 2021, the federal minimum wage is $7.25 per hour, which was last raised in 2009. However, many states and cities have enacted their own minimum wage laws that are higher than the federal minimum wage.
Over the years, debates about raising the minimum wage have been a key issue in American politics. Supporters argue that raising the minimum wage is essential to help workers make ends meet and reduce income inequality. Opponents, on the other hand, argue that increasing the minimum wage could lead to job losses, higher prices for goods and services, and potential inflation.
In recent years, there have been calls to raise the federal minimum wage to $15 per hour, which is seen as a living wage that would allow workers to support themselves and their families. However, efforts to increase the federal minimum wage have been met with resistance from some lawmakers and business groups.
The fight for a higher minimum wage continues to be a hot-button issue in the United States, with both sides passionately advocating for their positions. As the cost of living continues to rise, it remains to be seen whether the minimum wage will be raised in the near future and how it will impact American workers and businesses.
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