When was the last time the federal minimum wage was raised?
July 24, 2009
The 2007 amendments increased the minimum wage to $5.85 per hour effective July 24, 2007; $6.55 per hour effective July 24, 2008; and $7.25 per hour effective July 24, 2009.
How many times has the federal minimum wage been raised?
Congress has raised the minimum wage nine times since its creation in 1938. In the years succeeding the last approved increase in 2007, Congress has considered iterations of the Raise the Wage Act.
How much has minimum wage increased since 1980?
History of California Minimum Wage
| Effective Date | New Minimum Wage | Amount of Wage Increase |
|---|---|---|
| October 1, 1996 | $4.75 | $0.50 |
| July 1, 1988 | $4.25 | $0.90 |
| January 1, 1981 | $3.35 | $0.25 |
| January 1, 1980 | $3.10 | $0.20 |
What is the federal minimum wage for the last 10 years?
The federal minimum wage in the United States has been $7.25 per hour since July 2009, the last time Congress raised it.
Does raising the minimum wage hurt the economy?
Increasing it would raise the earnings and family income of most low-wage workers, lifting some families out of poverty—but it would cause other low-wage workers to become jobless, and their family income would fall.
Are wages keeping up with inflation?
The U.S. economy has been enjoying the fastest job growth in almost four decades. Unfortunately, inflation-adjusted wages are falling faster than they have in 40 years. Inflation ran 8.5% in the year ending last month, while nominal wages grew only 5.6%, a decline in inflation-adjusted wages of 2.7%.
What would minimum wage be if it kept up with cost of living?
If the federal minimum wage had grown at the same pace as productivity, Baker said, “We’d be over $27 an hour, if you added in inflation and productivity growth.” (Editor’s note: Baker is referring to his analysis for the Center for Economic and Policy Research that miscalculated that the productivity-adjusted minimum …
Why we shouldn’t raise the minimum wage?