Inflation and the Real Minimum Wage: Fact Sheet
Description:
Because the minimum wage is not indexed to the price level, it has been legislatively increased from time to time to make up for the loss in its real value due to inflation. In nominal terms, the minimum wage has risen steadily since 1938 from 25 cents an hour to $5.15 where it now stands. But the legislated adjustments to the minimum wage have occurred at irregular intervals. As a result, there has been significant variation in the purchasing power of the minimum wage.
Date:
January 27, 1999
Creator:
Cashell, Brian W.
Item Type:
Refine your search to only
Report
Partner:
UNT Libraries Government Documents Department