DATA DROP NEWSLETTER
Should minimum wage increase? A look at key data points
📊 Minimum wage debateA hot topic right now surrounds the push to increase the federal minimum wage. While federal minimum wage hasn’t increased since 2009, more than half of the states in the country have minimum wages above the federal floor. Minimum wage facts and figuresPoverty line comparisonFederal minimum wage, as it stands, at $7.25 per hour, working 40 hours per week, amounts to $15,080 per year (gross income). Minimum wage valueAccording to analysis from the EPI, the federal minimum wage is worth 17% less than 10 years ago -- and is 31% less than in 1968, when adjusted for inflation. Source: EPI analysis of historical minimum wage data in the Fair Labor Standards Act and amendments.
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