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Inflation and the Real Minimum Wage: A Fact Sheet

dc.contributor.authorElwell, Craig K.
dc.contributor.authorLevine, Linda
dc.date.accessioned2020-11-25T15:59:36Z
dc.date.available2020-11-25T15:59:36Z
dc.date.issued2013-02-26
dc.description.abstractThe Fair Labor Standards Act (FLSA) of 1938 established the hourly minimum wage rate at 25 cents for covered workers. Since then, it has been raised 22 separate times, in part to keep up with rising prices. Most recently, in July 2009, it was increased to $7.25 an hour. Because there have been some extended periods between these adjustments while inflation generally has increased, the real value (purchasing power) of the minimum wage has decreased substantially over time.
dc.description.legacydownloadsCRS_Inflation_and_the_Real_Minimum_Wage.pdf: 672 downloads, before Oct. 1, 2020.
dc.identifier.other3927794
dc.identifier.urihttps://hdl.handle.net/1813/79196
dc.language.isoen_US
dc.relation.hasversionA more recent version of this article can be found here: https://hdl.handle.net/1813/79191
dc.relation.urihttps://hdl.handle.net/1813/79191
dc.subjectFair Labor Standards Act
dc.subjectminimum wage
dc.subjectpurchasing power
dc.subjectinflation
dc.titleInflation and the Real Minimum Wage: A Fact Sheet
dc.typeunassigned
local.authorAffiliationElwell, Craig K.: Congressional Research Service
local.authorAffiliationLevine, Linda: Congressional Research Service

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