North Texas e-News: July 24 marks 15 years with federal minimum wage stuck at $7.25
North Texas e-News, July 21, 2024
From Business for a Fair Minimum Wage release
July 24 will mark fifteen years since the last federal minimum wage increase in 2009. This is the longest period by far without a raise since the minimum wage was enacted in 1938. The $7.25 federal minimum wage amounts to just $15,080 a year for full-time workers.
The federal minimum wage peaked in purchasing power in 1968, when the minimum wage was worth $14.70 in today’s dollars, according to the U.S. Bureau of Labor Statistics Inflation Calculator. Thirty states now...