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Inflation and the Real Minimum Wage: Fact Sheet (CRS Report for Congress)

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Release Date Revised Aug. 14, 2007
Report Number RS20040
Report Type Report
Authors Brian W. Cashell, Government and Finance Division
Source Agency Congressional Research Service
Older Revisions
  • Premium   Jan. 24, 2005 (2 pages, $24.95) add
Summary:

The Fair Labor Standards Act of 1938 established the hourly minimum wage rateat 25 cents for covered workers. Since then, it has been raised 19 separate times, in partto keep up with rising prices. Most recently, in September 1997, it was increased to$5.15. Because there have been some extended periods between these adjustments,there has been substantial variation in the real value of the minimum wage.