Sunday, June 08, 2008

Largest Real Minimum Wage Increase in 50 Years

In nominal dollars, there will be a 41% increase in the minimum wage, from $5.15 per hour in 2007, to $7.25 per hour in 2009. In real, inflation-adjusted dolars, it will be a 25.5% increase, and will be the largest 2-year increase in the real minimum wage in at least 50 years (see chart above).

(Note: I am assuming a 3.8% rate of inflation for 2008 and 2009).


At 6/11/2008 9:01 PM, Blogger Richard Jennings said...

Carpe - Unemployment is up but when I look at all the high paying jobs posted online (& yes low paying) I just cant help but think many people dont realize the number of employers hiring and the salaries they are offering...not minimum wage either:

Does anyone HAVE to be unemployed?? I dont get it


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