1 dataset found

  1. U.S. minimum wage: real and nominal value 1938-2024

    • statista.com
    Updated Jul 26, 2024
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    Statista (2024). U.S. minimum wage: real and nominal value 1938-2024 [Dataset]. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
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    Dataset updated
    Jul 26, 2024
    Dataset authored and provided by
    Statistahttp://statista.com/
    Area covered
    United States
    Description

    When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.

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TwitterTwitter
Email
Click to copy link
Link copied
Close
Cite
Statista (2024). U.S. minimum wage: real and nominal value 1938-2024 [Dataset]. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
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U.S. minimum wage: real and nominal value 1938-2024

Explore at:
5 scholarly articles cite this dataset (View in Google Scholar)
Dataset updated
Jul 26, 2024
Dataset authored and provided by
Statistahttp://statista.com/
Area covered
United States
Description

When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.

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