How The Minimum Salary in US Changed In History

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Did you know, that the minimum hourly wage was 25 cents, when the federal minimum wage law was enacted back in 1938. This was equal to 4 dollars today’s money. Having this in mind, the average minimum hourly earning has increased only twice in real terms and 16 times (to $8) in nominal terms.

In 1980, more than 16% of the working population received minimal wage. Today this percentage is under 3%.

US Minimum Wage Growth - Nominal and Real

 

You can read some interesting information about wages and labor on the site of the United States Department Of Labor located here http://www.dol.gov/