The minimum wage in the United States over the years
The minimum wage in the United States has been a hotly debated topic for decades. Throughout the years, the federal minimum wage has seen many changes and adjustments to keep up with inflation and the rising cost of living. Here is a breakdown of the US minimum wage by year:
1938: The Fair Labor Standards Act was passed, establishing the first federal minimum wage at 25 cents per hour.
1950: The minimum wage increased to 75 cents per hour.
1961: President Kennedy signed into law an increase in the minimum wage to $1.15 per hour.
1966: The minimum wage was raised to $1.60 per hour.
1974: The minimum wage increased to $2.00 per hour.
1978: The minimum wage was raised to $2.65 per hour.
1990: The minimum wage increased to $3.80 per hour.
1996: President Clinton signed legislation to increase the minimum wage to $5.15 per hour.
2007: The minimum wage increased to $7.25 per hour, where it remains today.
Since 2009, there have been ongoing efforts to raise the federal minimum wage to $15 per hour, with many states and cities gradually increasing their own minimum wage rates to that level. Advocates for a higher minimum wage argue that it would help lift many working families out of poverty and provide them with a living wage. However, opponents argue that raising the minimum wage too quickly could lead to job losses and hurt small businesses.
In recent years, the fight for a higher minimum wage has gained momentum, with many states and cities passing laws to gradually raise their minimum wage rates. Some major companies, such as Amazon and Walmart, have also announced plans to increase their minimum wage to $15 per hour.
Overall, the US minimum wage has evolved significantly over the years, reflecting changing economic conditions and societal values. As the debate over the minimum wage continues, it is crucial for policymakers to find a balance that ensures fair wages for workers while also supporting businesses and the economy as a whole.
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