Craig K. Elwell Specialist in Macroeconomic Policy
Linda Levine Specialist in Labor Economics
Fair Labor Standards Act (FLSA) of 1938 established the hourly minimum wage
rate at 25 cents for covered workers.1 Since
then, it has been raised 22 separate times, in part to keep up with rising
prices. Most recently, in July 2009, it was increased to $7.25 an hour. Because
there have been some extended periods between these adjustments while inflation generally
has increased, the real value (purchasing power) of the minimum wage has
decreased substantially over time.
Date of Report: February 26, 2013
Number of Pages: 4 Order Number: R42973 Price: $19.95
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