Figure E
The minimum wage has lost a third of its value since 1968 : Value of the minimum wage, 1938–2020 (in 2021 dollars)
| Year | Nominal (face value) | Real (i.e., inflation-adjusted) value in 2021$ |
|---|---|---|
| 1938 | $4.07 | |
| 1939 | $4.95 | |
| 1940 | $4.92 | |
| 1941 | $4.68 | |
| 1942 | $4.22 | |
| 1943 | $3.98 | |
| 1944 | $3.91 | |
| 1945 | $5.10 | |
| 1946 | $4.71 | |
| 1947 | $4.12 | |
| 1948 | $3.81 | |
| 1949 | $3.86 | |
| 1950 | $7.14 | |
| 1951 | $6.62 | |
| 1952 | $6.50 | |
| 1953 | $6.45 | |
| 1954 | $6.40 | |
| 1955 | $6.42 | |
| 1956 | $8.44 | |
| 1957 | $8.17 | |
| 1958 | $7.94 | |
| 1959 | $7.89 | |
| 1960 | $7.75 | |
| 1961 | $8.83 | |
| 1962 | $8.74 | |
| 1963 | $9.38 | |
| 1964 | $9.25 | |
| 1965 | $9.11 | |
| 1966 | $8.85 | |
| 1967 | $9.62 | |
| 1968 | $10.59 | |
| 1969 | $10.13 | |
| 1970 | $9.66 | |
| 1971 | $9.26 | |
| 1972 | $8.99 | |
| 1973 | $8.46 | |
| 1974 | $9.61 | |
| 1975 | $9.32 | |
| 1976 | $9.66 | |
| 1977 | $9.08 | |
| 1978 | $9.79 | |
| 1979 | $9.79 | |
| 1980 | $9.41 | |
| 1981 | $9.29 | |
| 1982 | $8.76 | |
| 1983 | $8.40 | |
| 1984 | $8.07 | |
| 1985 | $7.80 | |
| 1986 | $7.67 | |
| 1987 | $7.41 | |
| 1988 | $7.15 | |
| 1989 | $6.85 | |
| 1990 | $7.41 | |
| 1991 | $7.99 | |
| 1992 | $7.80 | |
| 1993 | $7.61 | |
| 1994 | $7.45 | |
| 1995 | $7.28 | |
| 1996 | $7.92 | |
| 1997 | $8.41 | |
| 1998 | $8.30 | |
| 1999 | $8.12 | |
| 2000 | $7.86 | |
| 2001 | $7.64 | |
| 2002 | $7.52 | |
| 2003 | $7.35 | |
| 2004 | $7.16 | |
| 2005 | $6.93 | |
| 2006 | $6.71 | |
| 2007 | $7.41 | |
| 2008 | $7.99 | |
| 2009 | $8.87 | |
| 2010 | $8.73 | |
| 2011 | $8.46 | |
| 2012 | $8.29 | |
| 2013 | $8.17 | |
| 2014 | $8.03 | |
| 2015 | $8.02 | |
| 2016 | $7.91 | |
| 2017 | $7.75 | |
| 2018 | $7.56 | |
| 2019 | $7.43 | |
| 2020 | $7.34 |
Notes: Inflation is measured using the CPI-U-RS and CBO CPI-U projections.
Sources: EPI analysis of the Fair Labor Standards Act and amendments.
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