Monday, January 6, 2014

A Historic Look at Inflation Adjusted Minimum Wages

New York State just increased the minimum wage for it's workforce from the federal standard of $7.25 per hour to $8.00 per hour. For a look at the hard data behind the historical changes in the minimum wage, visit the US Department of Labor website, or for a more graphical view, here's a chart from that shows how the historical data compares when adjusted for inflation to 2012 dollars.