When Prices Increase, But The Minimum Wage Has Not
January 6, 2020
The federal minimum wage is $7.25. And that rate hasn’t changed since 2009, even though the price of everything from housing to transportation has increased.
So how do we keep America affordable?
People are getting priced out – and not just in the big cities. The federal minimum wage is less than half of what experts say a family needs to survive.
How do businesses pay their workers well – and make a profit? How do workers make enough to get by – and still have a life?
To unpack these questions, we spoke with Sasha-Ann Simons, race & identity reporter at WAMU 88.5; Adriana Kugler, professor of economics and foreign policy at Georgetown University; and David Cooper, senior economic analyst at the Economic Policy Institute.