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. Here’s what the federal minimum was the year you were born and how much its true value actually was.
What was the minimum wage in the United States 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 the average salary in 1969?
about $9,400
The median income of all families in 1969 was about $9,400. This was about $800, or 9.3 percent, higher than the 1968 median income of about $8,600.
What was the minimum wage in California in 1968?
History of California Minimum Wage. Effective Date Minimum Wage (for Employers with 26 Employees or More) Minimum Wage (for Employers with 25 Employees or Less) Percentage of Increase Over Previous Wage (26 Employees or More) 1968: $1.65 : $1.30 : $0.35: 26.92 percent: August 30, 1964: $1.30 : $1.25 : $0.05 : 4.00 percent: August 30, 1963 …
What was the minimum wage in the 1960s?
But the number of people protected by minimum wage laws in the 1960s was expanding, and newly covered employees in public schools, laundromats, nursing homes and the construction industry were only guaranteed $1.15 an hour in 1968, which translates to $8.37 an hour today.
What’s the minimum wage in the United States?
What is this? In the United States, states and the federal government set minimum hourly pay (“minimum wage”) that workers can receive to ensure that citizens experience a minimum quality of life. This dataset provides the minimum wage data set by each state and the federal government from 1968 to 2020.
When was the first federal minimum wage enacted?
The first federal minimum wage law was enacted in 1938. Get downloadable data from FRED. Shows the minimum wage rates set by state laws, as well as the federal minimum wage rate.
