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 and the Department of Labor, here are some facts surrounding the minimum wage.
- Since the last time it was raised – to $7.25 in 2009 − the cost of living has increased by nearly 12 percent.
- Since the federal minimum wage was established under President Franklin Roosevelt, 10 presidents − of both parties – have approved raises.
- 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.
- 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.
- The federal minimum wage for tipped workers is $2.13 – and it hasn’t been raised since 1991.
- Seven recipients of the Nobel Prize in Economic Sciences say raising the minimum wage is the smart thing to do.
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