When adjusted for inflation, the 2022 federal minimum wage in the United States is around 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2022 dollars this increases to 12.04 U.S. dollars. A large difference from the federal minimum wage in 2022 of 7.25 U.S. dollars.
Real and nominal value of the federal minimum wage in the United States from 1938 to 2022
(in 2022 U.S. dollars)
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Bureau of Labor Statistics. (May 10, 2022). Real and nominal value of the federal minimum wage in the United States from 1938 to 2022 (in 2022 U.S. dollars) [Graph]. In Statista. Retrieved June 29, 2022, from https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics. "Real and nominal value of the federal minimum wage in the United States from 1938 to 2022 (in 2022 U.S. dollars)." Chart. May 10, 2022. Statista. Accessed June 29, 2022. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics. (2022). Real and nominal value of the federal minimum wage in the United States from 1938 to 2022 (in 2022 U.S. dollars). Statista. Statista Inc.. Accessed: June 29, 2022. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics. "Real and Nominal Value of The Federal Minimum Wage in The United States from 1938 to 2022 (in 2022 U.S. Dollars)." Statista, Statista Inc., 10 May 2022, https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics, Real and nominal value of the federal minimum wage in the United States from 1938 to 2022 (in 2022 U.S. dollars) Statista, https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/ (last visited June 29, 2022)
