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Six Facts About Minium Wage

As the debate about raising the minimum wage continues, the DOL offers some interesting facts on its history and impact.

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Sunday marked seven years since the last time the federal minimum wage was raised - an issue that continues to burn white hot as we enter election season. Per Tiffany Koebel and the Department of Labor, here are some facts surrounding the minimum wage.

  1. Since the last time it was raised – to $7.25 in 2009 − the cost of living has increased by nearly 12 percent.
  2. Since the federal minimum wage was established under President Franklin Roosevelt, 10 presidents − of both parties – have approved raises.
  3. 18 states and the District of Columbia have taken action to raise their minimum wages since President Obama first called for an increase in January 2013.
  4. Most of the workers who would benefit from a minimum wage increase are adults. About 9 out of 10 are age 20 or over. More than half are women.
  5. The federal minimum wage for tipped workers is $2.13 – and it hasn’t been raised since 1991.
  6. Seven recipients of the Nobel Prize in Economic Sciences say raising the minimum wage is the smart thing to do.

To see the complete article, click here.

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