When adjusted for inflation, the 2024 federal minimum wage in the United States is over 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 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.
Real and nominal value of the federal minimum wage in the United States from 1938 to 2024
(in 2024 U.S. dollars)
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Bureau of Labor Statistics. (July 26, 2024). Real and nominal value of the federal minimum wage in the United States from 1938 to 2024 (in 2024 U.S. dollars) [Graph]. In Statista. Retrieved December 12, 2024, 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 2024 (in 2024 U.S. dollars)." Chart. July 26, 2024. Statista. Accessed December 12, 2024. https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
Bureau of Labor Statistics. (2024). Real and nominal value of the federal minimum wage in the United States from 1938 to 2024 (in 2024 U.S. dollars). Statista. Statista Inc.. Accessed: December 12, 2024. 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 2024 (in 2024 U.S. Dollars)." Statista, Statista Inc., 26 Jul 2024, 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 2024 (in 2024 U.S. dollars) Statista, https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/ (last visited December 12, 2024)
Real and nominal value of the federal minimum wage in the United States from 1938 to 2024 (in 2024 U.S. dollars) [Graph], Bureau of Labor Statistics, July 26, 2024. [Online]. Available: https://www.statista.com/statistics/1065466/real-nominal-value-minimum-wage-us/
