View Single Post
Old 09-16-2013, 03:36 PM   #24
songkrai
Senior Member
 
Join Date: Dec 2009
Posts: 725
Thanks: 35
Thanked 145 Times in 98 Posts
Default

1960 wages paid today at minimum wage.

"A federal minimum wage was first set in 1938. The graph shows nominal (blue diamonds) and real (red squares) minimum wage values. Nominal values range from $0.25/hr in 1938 to the current $7.25/hr. The graph adjusts these wages to 2012 dollars (red squares) to show the real value of the minimum wage. Calculated in real 2012 dollars, the 1968 minimum wage was the highest at $10.51. The real dollar minimum wage (red squares) falls during periods Congress does not raise the minimum wage to keep up with inflation. The minimum wage increased in three $0.70 increments--to $5.85 in July, 2007, $6.55 in July, 2008, and to $7.25 in July 2009.
The 2012 minimum wage is equal to what was paid in 1960."

LINK
songkrai is offline