Table of Contents
What was minimum wage back in 1988?
History of California Minimum Wage
| Effective Date | New Minimum Wage | Old Minimum Wage |
|---|---|---|
| July 1, 1988 | $4.25 | $3.35 |
| January 1, 1981 | $3.35 | $3.10 |
| January 1, 1980 | $3.10 | $2.90 |
| January 1, 1979 | $2.90 | $2.65 |
What is the minimum wage in 1989?
Fair Labor Standards Amendments of 1989 – Amends the Fair Labor Standards Act of 1938 (the Act) to increase the minimum wage per hour from $3.35 in 1989 to: (1) $3.85 in FY 1990; (2) $4.25 in FY 1991; and (3) $4.55 in FY 1992 and thereafter.
What was minimum wage back in 1980?
$3.10
Minimum hourly wage of workers in jobs first covered by
| Effective Date | 1938 Act 1 |
|---|---|
| Jan 1, 1978 | $2.65 for all covered, nonexempt workers |
| Jan 1, 1979 | $2.90 for all covered, nonexempt workers |
| Jan 1, 1980 | $3.10 for all covered, nonexempt workers |
| Jan 1, 1981 | $3.35 for all covered, nonexempt workers |
What is the highest minimum wage in history?
The federal minimum wage was introduced in 1938 at the rate of $0.25 per hour (equivalent to $4.6 in 2020). By 1950 the minimum wage had risen to $0.75 per hour. The purchasing power of the federal minimum wage has fluctuated; it was highest in 1968, when it was $1.60 per hour (equivalent to $11.91 in 2020).
What was the minimum wage in 1957?
7.25
Data in current dollars and constant 1996 dollars
| Value of the minimum wage | Value of the minimum wage | |
|---|---|---|
| Year | Current dollars | Current dollars |
| 1955 | $0.75 | $7.25 |
| 1956 | 1.00 | 7.25 |
| 1957 | 1.00 | 7.25 |
What was minimum wage in 1969?
$1.30
The minimum wage went to $1.00 an hour effective February 1967 for newly covered nonfarm workers, $1.15 in February 1968, $1.30 in February 1969, $1.45 in February 1970, and $1.60 in February 1971. Increases for newly subject farm workers stopped at $1.30.
What was the average salary in 1918?
$1,518
According to the Bureau of Labor Statistics, the average household earned $1,518 in 1918, which is the equivalent of $21,644 in 2008 dollars (the second most expensive year for gas dating back to 1918).
How much was the 1st minimum wage?
The minimum wage was enacted in the United States in 1938 as part of the Fair Labor Standards Act (FLSA). The first minimum wage was 25 cents an hour.
What is the current minimum wage in the US?
In 2019, 82.3 million workers age 16 and older in the United States were paid at hourly rates, representing 58.1 percent of all wage and salary workers. Among those paid by the hour, 392,000 workers earned exactly the prevailing federal minimum wage of $7.25 per hour. About 1.2 million had wages below the federal minimum.
What was the original intent of the minimum wage?
The purpose of the minimum wage was to stabilize the post-depression economy and protect the workers in the labor force. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees.
What are the issues with minimum wage?
Increased Labor Costs. The immediate issue with a higher minimum wage, if you’re an employer, is the potential for your labor costs to increase. It’s especially difficult if you’re in an industry such as food service, where margins are already razor-thin and a lot of your employees earn minimum wage.