LinkedIn Reddit Pinterest Email Mapped: Minimum Wage Around the World The purpose of a minimum wage is to establish a baseline income level for workers in a given jurisdiction. Ideally it’s enough to cover basic needs like food and housing, but this isn’t always a guarantee. ...
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It Calculates People’s Needs More Precisely. The current poverty threshold is based on food expenses alone. It takes the cost of a basic food budget, as calculated in 1963, and adjusts for inflation. Instead, the SPM looks at what people actually spend today on basic needs: food, clothing...
Without a legislative increase, the real value of the minimum wages declines each year with inflation. State minimum wages are higher than the federal standard in 29 states and the District of Columbia, led in 2016 by DC ($11.50), California ($10.00) and Massachusetts ($10.00). The federal...
When President Franklin D. Roosevelt signed America’s first federal minimum wage into law in 1938, it was 25 cents per hour. Adjusted for inflation, that would be worth about $4.45 today. Scroll over the chart to see the US federal minimum wage through history, and what it would be wort...