Figure A
The 1963 March on Washington’s minimum wage demand would be close to $15 today, adjusted for inflation: Historical and projected federal minimum wages under $15 in 2025, and the 1963 March on Washington demand indexed to inflation
| Year | Real federal minimum wage (2020$) | Real federal minimum wage (2020$) under $15 in 2025 | Nominal federal minimum wage | Nominal federal minimum wage (under $15 in 2025) | 1963 March on Washington nominal min. wage projection | 1963 March on Washington nominal min. wage projection |
|---|---|---|---|---|---|---|
| 1963 | $9.24 | $1.25 | $2.00 | |||
| 1964 | $9.12 | $1.25 | $2.03 | |||
| 1965 | $8.96 | $1.25 | $2.06 | |||
| 1966 | $8.72 | $1.25 | $2.12 | |||
| 1967 | $9.48 | $1.40 | $2.18 | |||
| 1968 | $10.43 | $1.60 | $2.27 | |||
| 1969 | $9.99 | $1.60 | $2.37 | |||
| 1970 | $9.52 | $1.60 | $2.49 | |||
| 1971 | $9.12 | $1.60 | $2.60 | |||
| 1972 | $8.85 | $1.60 | $2.67 | |||
| 1973 | $8.33 | $1.60 | $2.84 | |||
| 1974 | $9.47 | $2.00 | $3.12 | |||
| 1975 | $9.18 | $2.10 | $3.38 | |||
| 1976 | $9.51 | $2.30 | $3.58 | |||
| 1977 | $8.95 | $2.30 | $3.80 | |||
| 1978 | $9.65 | $2.65 | $4.06 | |||
| 1979 | $9.64 | $2.90 | $4.45 | |||
| 1980 | $9.27 | $3.10 | $4.95 | |||
| 1981 | $9.15 | $3.35 | $5.41 | |||
| 1982 | $8.63 | $3.35 | $5.74 | |||
| 1983 | $8.28 | $3.35 | $5.98 | |||
| 1984 | $7.95 | $3.35 | $6.23 | |||
| 1985 | $7.68 | $3.35 | $6.45 | |||
| 1986 | $7.55 | $3.35 | $6.56 | |||
| 1987 | $7.30 | $3.35 | $6.79 | |||
| 1988 | $7.05 | $3.35 | $7.03 | |||
| 1989 | $6.75 | $3.35 | $7.34 | |||
| 1990 | $7.30 | $3.80 | $7.70 | |||
| 1991 | $7.88 | $4.25 | $7.98 | |||
| 1992 | $7.68 | $4.25 | $8.18 | |||
| 1993 | $7.50 | $4.25 | $8.39 | |||
| 1994 | $7.34 | $4.25 | $8.56 | |||
| 1995 | $7.17 | $4.25 | $8.77 | |||
| 1996 | $7.81 | $4.75 | $9.00 | |||
| 1997 | $8.28 | $5.15 | $9.19 | |||
| 1998 | $8.17 | $5.15 | $9.32 | |||
| 1999 | $8.00 | $5.15 | $9.52 | |||
| 2000 | $7.74 | $5.15 | $9.84 | |||
| 2001 | $7.53 | $5.15 | $10.12 | |||
| 2002 | $7.41 | $5.15 | $10.28 | |||
| 2003 | $7.24 | $5.15 | $10.51 | |||
| 2004 | $7.05 | $5.15 | $10.80 | |||
| 2005 | $6.82 | $5.15 | $11.16 | |||
| 2006 | $6.61 | $5.15 | $11.53 | |||
| 2007 | $7.30 | $5.85 | $11.85 | |||
| 2008 | $7.87 | $6.55 | $12.31 | |||
| 2009 | $8.74 | $7.25 | $12.26 | |||
| 2010 | $8.60 | $7.25 | $12.47 | |||
| 2011 | $8.34 | $7.25 | $12.86 | |||
| 2012 | $8.16 | $7.25 | $13.13 | |||
| 2013 | $8.05 | $7.25 | $13.33 | |||
| 2014 | $7.91 | $7.25 | $13.55 | |||
| 2015 | $7.90 | $7.25 | $13.58 | |||
| 2016 | $7.80 | $7.25 | $13.75 | |||
| 2017 | $7.63 | $7.25 | $14.05 | |||
| 2018 | $7.45 | $7.25 | $14.39 | |||
| 2019 | $7.32 | $7.25 | $14.65 | |||
| 2020 | $7.25 | $7.25 | $7.25 | $7.25 | $14.79 | $14.79 |
| 2021 | $8.70 | $8.80 | $14.97 | |||
| 2022 | $10.04 | $10.35 | $15.24 | |||
| 2023 | $11.30 | $11.90 | $15.57 | |||
| 2024 | $12.49 | $13.45 | $15.92 | |||
| 2025 | $13.62 | $15.00 | $16.28 |
Notes: Historical inflation adjustments use the CPI-U-RS (1978–2019), chained to the CPI-U-X1 (1967–1977) and CPI-U (1963–1966). Projections for inflation use Congressional Budget Office, An Update to the Economic Outlook: 2020 to 2030, “10-Year Economic Projections” (downloadable Excel file supplement), July 2020.
Sources: EPI analysis of the Fair Labor Standards Act and amendments, a $15 minimum wage target by 2025, and the 1963 March on Washington for Jobs and Freedom minimum wage demand.
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