What was the original purpose of the minimum wage?

The purpose of the minimum wage was to stabilize the post-depression economy and protect the workers in the labor force. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees.

When and why was minimum wage created?

The Fair Labor Standards Act (FLSA) set the first U.S. minimum wage in 1938. President Franklin D. Roosevelt passed it as part of the New Deal to protect workers during the Great Depression. The Depression had caused wages for many to drop to pennies a day.

When was minimum wage a living wage?

The 1936 Public Contracts Act allowed Roosevelt’s administration to establish a “prevailing minimum wage” that all federal contractors had to abide by.

What year did the minimum wage start?

1938
Since 1938, the minimum wage has been raised more than twenty times, in administrations of both parties. But its purchasing power has meant different things depending on the year. When adjusted for inflation, the minimum wage hit its peak in 1968 at $12.30 an hour in today’s dollars.

What was minimum wage in 1980?

$3.10
Minimum hourly wage of workers in jobs first covered by
Effective Date 1938 Act 1
Jan 1, 1978 $2.65 for all covered, nonexempt workers
Jan 1, 1979 $2.90 for all covered, nonexempt workers
Jan 1, 1980 $3.10 for all covered, nonexempt workers
Jan 1, 1981 $3.35 for all covered, nonexempt workers

What was minimum wage in 1970?

The minimum wage went to $1.00 an hour effective February 1967 for newly covered nonfarm workers, $1.15 in February 1968, $1.30 in February 1969, $1.45 in February 1970, and $1.60 in February 1971. Increases for newly subject farm workers stopped at $1.30.

What was minimum wage in 1987?

$3.35
Barack Obama says the minimum wage was higher during Ronald Reagan’s first State of the Union
Year Minimum wage Wage in 2013 dollars
1985 $3.35 $7.25
1986 $3.35 $7.12
1987 $3.35 $6.87
1988 $3.35 $6.60
Jan 29, 2014

What was minimum wage in 1968?

$1.60 an hour
When adjusted for inflation, the “best” the minimum wage has ever been was in 1968. Though it was $1.60 an hour, today, that’s the equivalent of more than $12 an hour.

What was minimum wage in 2008?

History of California Minimum Wage
Effective Date New Minimum Wage Old Minimum Wage
July 1, 2014 $9.00 $8.00
January 1, 2008 $8.00 $7.50
January 1, 2007 $7.50 $6.75
January 1, 2002 $6.75 $6.25

What was minimum wage in 1982?

3.35 5.78
The value of the dollar
Value of the minimum wage
Year Current dollars Constant (1996) dollars 1
1980 3.10 5.90
1981 3.35 5.78
1982 3.35 5.78

What was the average wage in 1920?

Wages in 1920

In 1920, the Internal Revenue Service reports, the average income was $3,269.40 per year.

What was minimum wage in 1999?

$ 7.38
Actual minimum wage (2016$) Minimum wage if it had grown with average wages
1996 $ 7.20 $ 9.67
1997 $ 7.64 $ 9.83
1998 $ 7.54 $ 10.09
1999 $ 7.38 $ 10.24
Jul 25, 2016

What was minimum wage 1989?

$3.35
Fair Labor Standards Amendments of 1989 – Amends the Fair Labor Standards Act of 1938 (the Act) to increase the minimum wage per hour from $3.35 in 1989 to: (1) $3.85 in FY 1990; (2) $4.25 in FY 1991; and (3) $4.55 in FY 1992 and thereafter.

What was minimum wage in 1960?

$1.00
Value of the minimum wage, 1960–2011
Minimum wage
Current dollars 2011 dollars
1960 $1.00 $6.65
1967 1.40 8.25
1973 1.60 7.24

What was a good salary in 1940?

The median income for a man in 1940 was $956. Seventy years later, the median income was $33,276. Women in 1940 earned 62 cents for every dollar a man earned.

What was minimum wage in 1983?

$3.35
In 1983, the federal government set the minimum wage at $3.35, but most of the states in the country were paying their workers less.

What was minimum wage in 2021?

$13.00
State Minimum Wage Rates
State 2020 Minimum Wage 2021 Minimum Wage
Alaska $10.19 $10.34
Arizona $12.00 $12.15
Arkansas $10.00 $11.00
California $13.00 $14.00*
Jul 16, 2021

What was minimum wage in 2003?

Of those paid by the hour, 545,000 were reported as earning exactly $5.15, the prevailing Federal minimum wage, and another 1.6 million were reported with wages below the minimum.

What was minimum wage in 1994?

Changes in Basic Minimum Wages in Non-Farm Employment Under State Law: Selected Years 1968 to 2020
State or other jurisdiction 1988 1994
Federal (FLSA) $3.35 $4.25
Alabama
Alaska 3.85 4.75

What was minimum wage in 1988 Michigan?

Michigan Minimum Wage History
State Wage $ Wage Increase
Michigan Minimum Wage 1988 $3.35 $0
Michigan Minimum Wage 1987 $3.35 $0
Michigan Minimum Wage 1986 $3.35 $0
Michigan Minimum Wage 1985 $3.35 $0

What was minimum wage in 2011?

$7.25 per hour
In 2011, 73.9 million American workers age 16 and over were paid at hourly rates, representing 59.1 percent of all wage and salary workers. Among those paid by the hour, 1.7 million earned exactly the prevailing Federal minimum wage of $7.25 per hour. About 2.2 million had wages below the minimum.

What will the minimum wage be in April 2021?

In April 2021 they are:

Age 16-17 – £4.62 an hour. Age 18-20 – £6.56 an hour. Age 21-22 – £8.36 an hour.

What was minimum wage in 2008 Michigan?

Michigan employers will need to pay minors the federal minimum wage as of July 24 since it is higher than the $6.29 per hour rate in effect from July 1 to July 23. That new $6.55 rate is also included on the updated Michigan minimum wage poster.

What was minimum wage in 2006?

$5.15
According to Current Population Survey estimates for 2006, 76.5 million American workers were paid at hourly rates, representing 59.7 percent of all wage and salary workers. Of those paid by the hour, 409,000 were reported as earning exactly $5.15, the prevailing Federal minimum wage.