Economic Snapshot
A stagnating minimum wage has led to increased wage inequality: Federal minimum wage as a percentage of the average U.S. production worker wage, 1964–2014
Minimum wage as a percentage of average wage | | |
---|---|---|
1964 | 49.4% | 50% |
1965 | 47.6% | |
1966 | 45.7% | |
1967 | 49.1% | |
1968 | 53.0% | |
1969 | 49.8% | |
1970 | 47.0% | |
1971 | 44.1% | |
1972 | 41.0% | |
1973 | 38.7% | |
1974 | 45.1% | |
1975 | 44.4% | |
1976 | 45.4% | |
1977 | 42.3% | |
1978 | 45.1% | |
1979 | 45.7% | |
1980 | 45.3% | |
1981 | 45.0% | |
1982 | 42.6% | |
1983 | 40.9% | |
1984 | 39.5% | |
1985 | 38.3% | |
1986 | 37.5% | |
1987 | 36.7% | |
1988 | 35.5% | |
1989 | 34.2% | |
1990 | 37.3% | |
1991 | 40.4% | |
1992 | 39.5% | |
1993 | 38.5% | |
1994 | 37.5% | |
1995 | 36.5% | |
1996 | 39.5% | |
1997 | 41.2% | |
1998 | 39.6% | |
1999 | 38.2% | |
2000 | 36.7% | |
2001 | 35.4% | |
2002 | 34.4% | |
2003 | 33.5% | |
2004 | 32.8% | |
2005 | 32.0% | |
2006 | 30.8% | |
2007 | 33.6% | |
2008 | 36.3% | |
2009 | 39.0% | |
2010 | 38.1% | |
2011 | 37.3% | |
2012 | 36.7% | |
2013 | 36.0% | |
2014 | 35.2% | 50% |
Source: Author’s analysis of Current Employment Statistics survey data from the Bureau of Labor Statistics and the Fair Labor Standards Act and amendments
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