This bumped the worth of minimum wage again up to $11.29 in today’s dollars. In the ultimate 12 months of the $1.60 minimal wage, it is worth was the equivalent to $9.88 today. In 1972, the $1.60 federal minimum wage can be worth $10.24 today. In 1970, the $1.60 federal minimal wage was worth the equal of $11.thirteen right now. The minimal wage remained $1.60 in 1969 and was worth $11.eighty two in right now’s money.
The minimal wage was increased by another 20 cents to $2.30 in 1976. In 1975, the 12 months the Vietnam War ended, the minimum wage was bumped up by 10 cents to $2.10.
That’s the bottom value for the federal minimum wage since 1955. When adjusted for inflation, the worth of the $three.35 minimal wage in 1987 could be simply $7.92 right now. The value of the $3.35 federal minimal wage continued to drop, clocking in at a worth of $eight.35 in today’s dollars by 1985. By 1984, the $three.35 federal minimum wage was only definitely worth the equal of $eight.sixty five an hour in today’s dollars. In 1983, the year of the Cabbage Patch Kids craze, the worth of the federal minimal wage of $3.35 dropped once more to the equal of $9.01 today. The minimum wage was bumped up again the following yr from $three.10 to $3.35 an hour. Despite the increase, that would be value simply $10.thirteen in right now’s cash, a decline from previous years.
The One Factor You Must Do Before A Home Renovation, According To Ben And Erin Napier
Even with this enhance, the worth of the minimum wage still dropped from the yr earlier than to $10.60. As the effects of the Watergate scandal continued to ripple across the nation, the federal minimum wage elevated to $2.00.… Read More