Economic Snapshot
The federal minimum wage could be significantly higher: Actual vs. hypothetical at growth rate of average production worker wages and productivity (2014$)
| Real minimum wage (2014$) (CPI-U-RS) | Minimum wage since ’68 at growth rate of real average wages | Minimum wage since ’68 at growth rate of productivity | |
|---|---|---|---|
| 1968 | $ 9.54 | $ 9.54 | $ 9.54 |
| 1969 | $ 9.13 | $ 9.71 | $ 9.58 |
| 1970 | $ 8.71 | $ 9.81 | $ 9.71 |
| 1971 | $ 8.35 | $ 10.01 | $ 10.08 |
| 1972 | $ 8.10 | $ 10.46 | $ 10.34 |
| 1973 | $ 7.62 | $ 10.44 | $ 10.60 |
| 1974 | $ 8.66 | $ 10.17 | $ 10.43 |
| 1975 | $ 8.40 | $ 10.02 | $ 10.66 |
| 1976 | $ 8.70 | $ 10.15 | $ 10.96 |
| 1977 | $ 8.18 | $ 10.25 | $ 11.08 |
| 1978 | $ 8.83 | $ 10.37 | $ 11.19 |
| 1979 | $ 8.81 | $ 10.21 | $ 11.21 |
| 1980 | $ 8.48 | $ 9.92 | $ 11.12 |
| 1981 | $ 8.37 | $ 9.84 | $ 11.36 |
| 1982 | $ 7.89 | $ 9.81 | $ 11.20 |
| 1983 | $ 7.57 | $ 9.81 | $ 11.53 |
| 1984 | $ 7.27 | $ 9.76 | $ 11.83 |
| 1985 | $ 7.03 | $ 9.71 | $ 12.03 |
| 1986 | $ 6.90 | $ 9.74 | $ 12.28 |
| 1987 | $ 6.68 | $ 9.65 | $ 12.34 |
| 1988 | $ 6.44 | $ 9.61 | $ 12.48 |
| 1989 | $ 6.18 | $ 9.57 | $ 12.58 |
| 1990 | $ 6.67 | $ 9.49 | $ 12.76 |
| 1991 | $ 7.20 | $ 9.44 | $ 12.87 |
| 1992 | $ 7.03 | $ 9.43 | $ 13.33 |
| 1993 | $ 6.86 | $ 9.44 | $ 13.38 |
| 1994 | $ 6.71 | $ 9.48 | $ 13.50 |
| 1995 | $ 6.56 | $ 9.52 | $ 13.51 |
| 1996 | $ 7.14 | $ 9.58 | $ 13.84 |
| 1997 | $ 7.57 | $ 9.74 | $ 14.03 |
| 1998 | $ 7.47 | $ 9.99 | $ 14.31 |
| 1999 | $ 7.32 | $ 10.15 | $ 14.65 |
| 2000 | $ 7.08 | $ 10.21 | $ 15.00 |
| 2001 | $ 6.89 | $ 10.30 | $ 15.23 |
| 2002 | $ 6.78 | $ 10.43 | $ 15.66 |
| 2003 | $ 6.63 | $ 10.48 | $ 16.17 |
| 2004 | $ 6.46 | $ 10.41 | $ 16.60 |
| 2005 | $ 6.25 | $ 10.35 | $ 16.89 |
| 2006 | $ 6.05 | $ 10.42 | $ 17.00 |
| 2007 | $ 6.68 | $ 10.53 | $ 17.12 |
| 2008 | $ 7.20 | $ 10.52 | $ 17.15 |
| 2009 | $ 8.00 | $ 10.88 | $ 17.50 |
| 2010 | $ 7.87 | $ 10.95 | $ 18.01 |
| 2011 | $ 7.63 | $ 10.84 | $ 18.03 |
| 2012 | $ 7.48 | $ 10.78 | $ 18.15 |
| 2013 | $ 7.37 | $ 10.84 | $ 18.33 |
| 2014 | $ 7.25 | $ 10.91 | $ 18.42 |
Note: Inflation calculated using the CPI-U-RS. Productivity is measured as total economy productivity net depreciation.
Source: EPI analysis of the Fair Labor Standards Act and amendments. Total economy productivity data from the Bureau of Labor Statistics Labor Productivity and Costs program. Average hourly wages of production nonsupervisory workers from the Bureau of Labor Statistics Current Employment Statistics.
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