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It’s now been 11 years since we raised the federal minimum wage

24 Jul 2020

It’s the longest period without a raise in the history of the minimum wage.

The last time the U.S. federal minimum wage was raised was July 24, 2009. For 11 years—now the longest period without a raise in the history of the minimum wage—the federal floor for earnings has been set at $7.25 an hour, or $15,080 a year. Over the course of those 11 years, that amount has lost its buying power to inflation, even as the cost of so many necessities has risen. With the country in an economic crisis because of the COVID-19 pandemic, some employers are calling for the federal minimum wage to be increased to $15 an hour to not only help workers, but also boost struggling businesses.


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This content was originally published by Fast Company. Original publishers retain all rights. It appears here for a limited time before automated archiving. By Fast Company

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