Wages and Consumer Spending are Stagnating as the Federal Minimum Wage Marks Nine Years Without a Raise
CONTACT: Erin Musgrave, erin@emcstrategies.com, 530-864-7014
July 23, 2018—July 24 will mark nine years since the federal minimum wage was last increased. Since reaching $7.25 an hour in 2009, the federal minimum wage has lost nearly 15 percent of its buying power. Full-time minimum wage workers make just $15,080 a year. Twenty-one states have minimum wages at or below the federal minimum and various other states have minimum wages that are above $7.25 an hour, but still inadequate. Business owners across the country are calling for the minimum wage to be raised to benefit businesses and the economy.