Ben ZippererThe US federal minimum wage is now worth 28% less than its value at the last increase, 13 years ago, and 41% less than its historical high point in 1968
DeanBaker13@benzipperer and less than one third of what it would be worth if the minimum wage had kept pace with productivity, as it did from 1938 to 1968
Jesse Rothstein@benzipperer And lower than it has been in any year since XXXX. What is XXXX? 1950?
@jesse_rothstein yes, the real value of the federal minimum wage now lower than it has ever been since 1956
https://www.epi.org/blog/the-value-of-the-federal-minimum-wage-is-at-its-lowest-point-in-66-years/
The value of the federal minimum wage is at its lowest point in 66 years
The value of the federal minimum wage has reached its lowest point in 66 years, according to an EPI analysis of recently released Consumer Price Index (CPI) data. Accounting for price increases in June, the current federal minimum wage of $7.25 per hour is now worth less than at any point since February 1956. At…
@jesse_rothstein to be fair coverage wasn't as universal is it is today until the late 1960s
everyman@benzipperer Someone should do something about that! 😂
@benzipperer Perfect time for the lame duck Congress to act