It's been nearly 13 years since Congress last hiked the nation's base hourly pay to $7.25 for low-income workers.
Most Americans weren't born the last time the federal minimum wage bought as little as it does today. It's been nearly 13 years since Congress raised the nation's baseline pay to $7.25 an hour, and that rate is now worth less than at any time in 66 years, a new analysis finds.
Factoring in the latest inflation data, the current value of the U.S. minimum wage in real dollars is at its lowest level since February 1956, when the base U.S. wage was 75 cents , according to the Economic Policy Institute, a left-leaning think tank that favors raising worker pay. Meanwhile, workers who earn the federal minimum today earn roughly 27% less in inflation-adjusted terms than their counterparts did in July 2009, the last time Congress enacted an increase, EPI calculated. Americans earning the minimum today are taking in the equivalent of 40% less a similar worker in February 1968, when the value of the base wage was at its peak.
While lawmakers on Capitol Hill haven't raised the federal minimum wage or index it to inflation, 30 states around the country and nearly 50 cities and counties have upped pay for those earning the least. A dozen states and the District of Columbia mandate wages of at least $15 an hour or higher, and Hawaii lawmakers recently voted to hike the state's minimum to $18 by 2028, EPI noted. Workers in more than 20 states, cities and countiesStill, the base pay's purchasing power in most of those 30 states is below where it was in 1968, when the federal minimum was worth $13.86 in 2022 dollars,Minimum-wage workers in 20 states continue to earn $7.
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