The minimum wage is a basic labour standard that sets the lowest wage rate that an employer can pay to employees who are covered by the legislation. Today, one of its main purposes is to protect non-unionized workers in unskilled jobs, although it can also influence, directly or indirectly, the level of compensation of other employees as well. A minimum wage constitutes a floor above which employees or their unions may negotiate with management for higher remuneration. However, it is rarely static: adjustments are required from time to time to maintain its relevance in changing economic and social conditions.

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.

Average hourly and weekly wage rate, and median hourly and weekly wage rate by North American Industry Classification System (NAICS), type of work, gender, and age group.

Major wage settlements, including number of agreements, number of employees, average duration of agreements, first year average percentage wage adjustment, and annual average percentage wage adjustment, by jurisdiction, industry, sector, and cost of living adjustment (COLA), monthly, from 1977 to 2020.

Low income cut-offs (LICOs) before and after tax by community size and family size, in current dollars, annual.