Chart: Real value of the federal minimum wage, 1968–2013 and 2013–2016 under proposed increase to $10.10 by 2016, compared with its value had it grown at the rate of productivity or average worker wages (2013 dollars)

Figure C

Real value of the federal minimum wage, 1968–2013 and 2013–2016 under proposed increase to $10.10 by 2016, compared with its value had it grown at the rate of productivity or average worker wages (2013 dollars)

* Productivity and average wage projections from 2013 to 2016 do not include the Harkin-Miller proposal.

Note: Dollars are deflated using CPI-U-RS and CBO inflation projections. Projected wage values are based on CBO inflation projections, average wage and productivity growth from 2002 to 2006 (the last full regular business cycle), and, in the case of the "real minimum wage" line, the proposal to raise the federal minimum wage to $10.10 by 2016.

Source: Author's analysis of Total Economy Productivity data from the Bureau of Labor Statistics (BLS) Labor Productivity and Costs program, BLS Current Employment Statistics, Current Population Survey Outgoing Rotation Group microdata, CBO (2013), U.S. Department of Labor Wage and Hour Division (2013), and the Harkin-Miller proposal

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Raising the Federal Minimum Wage to $10.10 Would Lift Wages for Millions and Provide a Modest Economic Boost

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