When adjusted for inflation, the 2023 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 2023 dollars this increases to 12.04 U.S. dollars. This is a significant difference from the federal minimum wage in 2023 of 7.25 U.S. dollars.
Real and nominal value of the federal minimum wage in the United States from 1938 to 2023 (in 2023 U.S. dollars)
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Other statistics that may interest you Minimum wage in the United States
Overview
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Public opinion
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Further related statistics
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- Wages in the U.S.: attitudes towards raising the minimum wage in 2013
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- American small-business owners' opinion on effects of a higher minimum wage 2013
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Statistics
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- Wages in the U.S.: public opinion on higher minimum wage if jobs will be lost 2013
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Bureau of Labor Statistics. (April 10, 2023). Real and nominal value of the federal minimum wage in the United States from 1938 to 2023 (in 2023 U.S. dollars) [Graph]. In Statista. Retrieved September 30, 2023, 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 2023 (in 2023 U.S. dollars)." Chart. April 10, 2023. Statista. Accessed September 30, 2023. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics. (2023). Real and nominal value of the federal minimum wage in the United States from 1938 to 2023 (in 2023 U.S. dollars). Statista. Statista Inc.. Accessed: September 30, 2023. 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 2023 (in 2023 U.S. Dollars)." Statista, Statista Inc., 10 Apr 2023, 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 2023 (in 2023 U.S. dollars) Statista, https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/ (last visited September 30, 2023)
Real and nominal value of the federal minimum wage in the United States from 1938 to 2023 (in 2023 U.S. dollars) [Graph], Bureau of Labor Statistics, April 10, 2023. [Online]. Available: https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/