Business For a Fair Minimum Wage
About Us
Business for a Fair Minimum Wage is a project of Business for Shared Prosperity
Business for Shared Prosperity is a new network of forward-thinking business owners, executives and investors committed to building enduring economic progress on a strong foundation of opportunity, equity and innovation.
Press Releases
Latest News
- Post Bulletin (MN): The rich keep getting richer
12/28/07 - Boston Globe: The future of the corporation
11/21/07 - DMI Blog: Minimum Wage, Maximum Good
10/31/07 - McClatchy-Tribune News Op-Ed: Holly Sklar, Billionaires up, America down
10/18/07 - Dallas Business Journal: You Get What You Pay For
8/9/07 - Jim Hightower: Pushing for Shared Prosperity
8/8/07 - Cleveland Plain Dealer Editorial, CEO Pay and the Minimum Wage
8/6/07 - Times & Democrat (SC) Editorial: Minimum wage increase not bad for business
7/31/07 - Northern Nevada Business Weekly: Minimum wage rise
7/30/07 - Chandler & Brownsboro Statesman (TX): Business leaders cheer raise in minimum wage
7/26/07 - OpEdNews: John Arensmeyer, Minimum Wage Hike Good for Business Bottom Line
7/25/07 - Cox News Service: Minimum wage increase takes first jump
7/24/07
Northern Nevada Business Weekly: Minimum wage rise
Northern Nevada Business Weekly, 7/30/07
The federal minimum wage will rise from $5.15 to $5.85 on July 24. The first increase in 10 years, it marks the end of the longest period without a raise since the minimum wage was enacted in 1938.
The minimum wage will again increase to $6.55 in 2008 and to $7.25 in 2009.
However, when adjusted for inflation, those minimum wage workers will have less buying power than minimum wage workers had half a century ago, says Business for Shared Prosperity, a nationwide network of employers and investors.
Even after rising to $7.25 in 2009, the minimum wage will still be lower than it was in 1956, when it was $7.65 in today's dollars. It will be lower than it was in 1968, when the minimum wage peaked in value at $9.56 in today's dollars.
In states with minimum wages higher than the federal minimum, the number of small businesses and the number of small business employees grew more than other states.