Paltry U.S. minimum wage ‘really striking’ amid inflation
By: Dani Romero | Yahoo!Finance | Aug 6, 2022
It’s been 13 years since Congress raised the federal minimum wage, the longest period without an increase since 1938.
A recent Economic Policy Institute (EPI) analysis found that after adjusting for inflation, the current federal minimum wage of $7.25 an hour is now worth less than at any point since 1956. The purchasing power for workers making the federal minimum wage diminished by 27.4% since 2009, when the starting wage was last increased. (Read More)