Minimum Wage Buys Less Today Than in 1950

The minimum wage buys less today than it in did in 1950. That year, the value of the federal minimum wage was $7.50 in 2016 dollars versus a wage of $7.25 today. Today's federal minimum wage also buys much less today than it did in 1968, when the value of the federal minimum wage reached a high point of $11.08 in 2016 dollars.

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