At $15 in 2024, the federal minimum wage would no longer be a poverty wage: Annual wage income for a full-time minimum-wage worker, compared with various poverty thresholds (2016$), 1964–2016 and 2017–2024 (projected)
Annual full-time minimum wage income | Projected | Two-person family | Three-person family | Four-person family | |
---|---|---|---|---|---|
1964 | $ 17,596 | $16,020 | $20,160 | $24,300 | |
1965 | $ 17,317 | $16,020 | $20,160 | $24,300 | |
1966 | $ 16,836 | $16,020 | $20,160 | $24,300 | |
1967 | $ 18,292 | $16,020 | $20,160 | $24,300 | |
1968 | $ 20,129 | $16,020 | $20,160 | $24,300 | |
1969 | $ 19,260 | $16,020 | $20,160 | $24,300 | |
1970 | $ 18,374 | $16,020 | $20,160 | $24,300 | |
1971 | $ 17,607 | $16,020 | $20,160 | $24,300 | |
1972 | $ 17,091 | $16,020 | $20,160 | $24,300 | |
1973 | $ 16,077 | $16,020 | $20,160 | $24,300 | |
1974 | $ 18,277 | $16,020 | $20,160 | $24,300 | |
1975 | $ 17,722 | $16,020 | $20,160 | $24,300 | |
1976 | $ 18,365 | $16,020 | $20,160 | $24,300 | |
1977 | $ 17,260 | $16,020 | $20,160 | $24,300 | |
1978 | $ 18,620 | $16,020 | $20,160 | $24,300 | |
1979 | $ 18,602 | $16,020 | $20,160 | $24,300 | |
1980 | $ 17,891 | $16,020 | $20,160 | $24,300 | |
1981 | $ 17,657 | $16,020 | $20,160 | $24,300 | |
1982 | $ 16,651 | $16,020 | $20,160 | $24,300 | |
1983 | $ 15,971 | $16,020 | $20,160 | $24,300 | |
1984 | $ 15,337 | $16,020 | $20,160 | $24,300 | |
1985 | $ 14,829 | $16,020 | $20,160 | $24,300 | |
1986 | $ 14,569 | $16,020 | $20,160 | $24,300 | |
1987 | $ 14,090 | $16,020 | $20,160 | $24,300 | |
1988 | $ 13,592 | $16,020 | $20,160 | $24,300 | |
1989 | $ 13,029 | $16,020 | $20,160 | $24,300 | |
1990 | $ 14,080 | $16,020 | $20,160 | $24,300 | |
1991 | $ 15,200 | $16,020 | $20,160 | $24,300 | |
1992 | $ 14,825 | $16,020 | $20,160 | $24,300 | |
1993 | $ 14,465 | $16,020 | $20,160 | $24,300 | |
1994 | $ 14,169 | $16,020 | $20,160 | $24,300 | |
1995 | $ 13,835 | $16,020 | $20,160 | $24,300 | |
1996 | $ 15,058 | $16,020 | $20,160 | $24,300 | |
1997 | $ 15,981 | $16,020 | $20,160 | $24,300 | |
1998 | $ 15,764 | $16,020 | $20,160 | $24,300 | |
1999 | $ 15,437 | $16,020 | $20,160 | $24,300 | |
2000 | $ 14,930 | $16,020 | $20,160 | $24,300 | |
2001 | $ 14,522 | $16,020 | $20,160 | $24,300 | |
2002 | $ 14,294 | $16,020 | $20,160 | $24,300 | |
2003 | $ 13,977 | $16,020 | $20,160 | $24,300 | |
2004 | $ 13,611 | $16,020 | $20,160 | $24,300 | |
2005 | $ 13,168 | $16,020 | $20,160 | $24,300 | |
2006 | $ 12,754 | $16,020 | $20,160 | $24,300 | |
2007 | $ 14,086 | $16,020 | $20,160 | $24,300 | |
2008 | $ 15,188 | $16,020 | $20,160 | $24,300 | |
2009 | $ 16,871 | $16,020 | $20,160 | $24,300 | |
2010 | $ 16,600 | $16,020 | $20,160 | $24,300 | |
2011 | $ 16,092 | $16,020 | $20,160 | $24,300 | |
2012 | $ 15,765 | $16,020 | $20,160 | $24,300 | |
2013 | $ 15,537 | $16,020 | $20,160 | $24,300 | |
2014 | $ 15,290 | $16,020 | $20,160 | $24,300 | |
2015 | $ 15,271 | $16,020 | $20,160 | $24,300 | |
2016 | $ 15,080 | $ 15,080 | $16,020 | $20,160 | $24,300 |
2017 | $ 18,800 | $16,020 | $20,160 | $24,300 | |
2018 | $ 20,071 | $16,020 | $20,160 | $24,300 | |
2019 | $ 21,369 | $16,020 | $20,160 | $24,300 | |
2020 | $ 22,773 | $16,020 | $20,160 | $24,300 | |
2021 | $ 24,096 | $16,020 | $20,160 | $24,300 | |
2022 | $ 24,445 | $16,020 | $20,160 | $24,300 | |
2023 | $ 25,209 | $16,020 | $20,160 | $24,300 | |
2024 | $ 25,923 | $16,020 | $20,160 | $24,300 |
Notes: Inflation measured using the CPI-U-RS. Inflation projections calculated using CBO (2017).
Source: EPI analysis of Fair Labor Standards Act and amendments, the Raise the Wage Act of 2017, and CBO (2017)