Inflation and the Real Minimum Wage: A Fact Sheet

dc.contributor.author	Elwell, Craig K.
dc.contributor.author	Levine, Linda
dc.date.accessioned	2020-11-25T15:59:36Z
dc.date.available	2020-11-25T15:59:36Z
dc.date.issued	2013-02-26
dc.description.abstract	The 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.legacydownloads	CRS_Inflation_and_the_Real_Minimum_Wage.pdf: 672 downloads, before Oct. 1, 2020.
dc.identifier.other	3927794
dc.identifier.uri	https://hdl.handle.net/1813/79196
dc.language.iso	en_US
dc.relation.hasversion	A more recent version of this article can be found here: https://hdl.handle.net/1813/79191
dc.relation.uri	https://hdl.handle.net/1813/79191
dc.subject	Fair Labor Standards Act
dc.subject	minimum wage
dc.subject	purchasing power
dc.subject	inflation
dc.title	Inflation and the Real Minimum Wage: A Fact Sheet
dc.type	government record
dc.type	fact sheet
local.authorAffiliation	Elwell, Craig K.: Congressional Research Service
local.authorAffiliation	Levine, Linda: Congressional Research Service

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