The minimum wage would be much higher if it had kept up with a growing economy: The inflation-adjusted minimum wage, and hypothetical minimum wage values if it had grown with average wages and productivity since 1968
| Actual minimum wage (2016$) | Minimum wage if it had grown with average wages | Minimum wage if it had grown with productivity | |
|---|---|---|---|
| 1938 | $ 3.67 | ||
| 1939 | $ 4.46 | ||
| 1940 | $ 4.43 | ||
| 1941 | $ 4.22 | ||
| 1942 | $ 3.81 | ||
| 1943 | $ 3.59 | ||
| 1944 | $ 3.53 | ||
| 1945 | $ 4.60 | ||
| 1946 | $ 4.24 | ||
| 1947 | $ 3.71 | ||
| 1948 | $ 3.46 | $5.43 | |
| 1949 | $ 3.51 | $5.52 | |
| 1950 | $ 6.49 | $5.94 | |
| 1951 | $ 6.02 | $6.11 | |
| 1952 | $ 5.91 | $6.28 | |
| 1953 | $ 5.86 | $6.50 | |
| 1954 | $ 5.82 | $6.61 | |
| 1955 | $ 5.84 | $6.87 | |
| 1956 | $ 7.67 | $6.88 | |
| 1957 | $ 7.43 | $7.07 | |
| 1958 | $ 7.22 | $7.22 | |
| 1959 | $ 7.17 | $7.48 | |
| 1960 | $ 7.05 | $7.61 | |
| 1961 | $ 8.03 | $7.84 | |
| 1962 | $ 7.95 | $8.14 | |
| 1963 | $ 8.52 | $8.42 | |
| 1964 | $ 8.41 | $8.69 | |
| 1965 | $ 8.28 | $8.96 | |
| 1966 | $ 8.05 | $9.24 | |
| 1967 | $ 8.75 | $9.35 | |
| 1968 | $ 9.63 | $ 9.63 | $9.63 |
| 1969 | $ 9.21 | $ 9.80 | $9.67 |
| 1970 | $ 8.79 | $ 9.90 | $9.80 |
| 1971 | $ 8.42 | $ 10.10 | $10.17 |
| 1972 | $ 8.17 | $ 10.55 | $10.44 |
| 1973 | $ 7.69 | $ 10.53 | $10.69 |
| 1974 | $ 8.74 | $ 10.27 | $10.52 |
| 1975 | $ 8.48 | $ 10.12 | $10.76 |
| 1976 | $ 8.78 | $ 10.25 | $11.06 |
| 1977 | $ 8.26 | $ 10.35 | $11.18 |
| 1978 | $ 8.91 | $ 10.47 | $11.29 |
| 1979 | $ 8.90 | $ 10.31 | $11.31 |
| 1980 | $ 8.56 | $ 10.01 | $11.23 |
| 1981 | $ 8.45 | $ 9.93 | $11.47 |
| 1982 | $ 7.96 | $ 9.91 | $11.30 |
| 1983 | $ 7.64 | $ 9.91 | $11.64 |
| 1984 | $ 7.34 | $ 9.85 | $11.94 |
| 1985 | $ 7.09 | $ 9.80 | $12.14 |
| 1986 | $ 6.97 | $ 9.83 | $12.39 |
| 1987 | $ 6.74 | $ 9.74 | $12.45 |
| 1988 | $ 6.50 | $ 9.70 | $12.60 |
| 1989 | $ 6.23 | $ 9.66 | $12.70 |
| 1990 | $ 6.73 | $ 9.58 | $12.88 |
| 1991 | $ 7.27 | $ 9.53 | $12.98 |
| 1992 | $ 7.09 | $ 9.52 | $13.45 |
| 1993 | $ 6.92 | $ 9.53 | $13.50 |
| 1994 | $ 6.78 | $ 9.58 | $13.63 |
| 1995 | $ 6.62 | $ 9.61 | $13.63 |
| 1996 | $ 7.20 | $ 9.67 | $13.96 |
| 1997 | $ 7.64 | $ 9.83 | $14.16 |
| 1998 | $ 7.54 | $ 10.09 | $14.44 |
| 1999 | $ 7.38 | $ 10.24 | $14.79 |
| 2000 | $ 7.14 | $ 10.29 | $15.13 |
| 2001 | $ 6.95 | $ 10.39 | $15.37 |
| 2002 | $ 6.84 | $ 10.52 | $15.80 |
| 2003 | $ 6.69 | $ 10.57 | $16.31 |
| 2004 | $ 6.51 | $ 10.51 | $16.75 |
| 2005 | $ 6.30 | $ 10.44 | $17.04 |
| 2006 | $ 6.10 | $ 10.51 | $17.14 |
| 2007 | $ 6.74 | $ 10.62 | $17.27 |
| 2008 | $ 7.26 | $ 10.62 | $17.29 |
| 2009 | $8.07 | $ 10.97 | $17.65 |
| 2010 | $ 7.94 | $ 11.05 | $18.17 |
| 2011 | $ 7.70 | $ 10.93 | $18.19 |
| 2012 | $ 7.54 | $ 10.87 | $18.29 |
| 2013 | $ 7.43 | $ 10.94 | $18.31 |
| 2014 | $ 7.31 | $ 11.01 | $18.42 |
| 2015 | $ 7.30 | $ 11.23 | $18.48 |
| 2016 | $7.25 | $11.35 | $18.85 |
Note: Growth in average wages measures average wages of production/nonsupervisory workers in the private sector.
Source: Adapted from David Cooper, The federal minimum wage has been eroded by decades of inaction, Economic Policy Institute Snapshot, July 25, 2016
