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What is the federal minimum wage?
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The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). By 1950 the minimum wage had risen to 75¢ per hour. The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
The federal minimum wage for covered nonexempt employees is $7.25 per hour. Learn about the history, enforcement, and exceptions of the minimum wage law from the official source.
- What Is Minimum Wage?
- Understanding Minimum Wage
- History of The Minimum Wage
- Federal Minimum Wage vs. State Minimum Wages
- State Minimum Wages vs. Municipal Minimum Wages
- The $15 Minimum Wage
- Minimum Wage vs. Living Wage
- The Bottom Line
A minimum wage is the lowest wage that a worker may be paid per hour. It's a price floor on hourly wages mandated by federal law. Nonexempt workerscan't be offered a job or agree to work for less than this amount.
Minimum wage laws were first introduced in Australia and New Zealand in an attempt to raise the income of unskilled workers. Most modern developed economiesas well as many developing economies enforce a national minimum wage. The first minimum wage law in the United States went into effect in 1912 when Massachusetts set a minimum hourly rate for wo...
The first minimum wage laws came into effect in the late 1800s when sweatshop labor was common in newly industrialized countries. Minimum wages were a central demand for the new union movement, along with shorter hours and better working conditions. The first national minimum wage was enacted by New Zealand in 1894, followed by the United Kingdom i...
The United States enforces a federal minimum wage but individual states, cities, and localities can enact different minimum wage requirementsprovided that the stipulated hourly wage is not lower than the federal minimum wage. An employer who is subject to the federal and state minimum wage requirements must pay the higher of the two. States usually...
Cities and municipalities within a state may set a higher minimum wage for residents who live in areas with higher costs of living. The city of Chicago has had a minimum wage of $15 or $15.80, depending on employer size, as of July 2023. The Illinois state minimum wage is $14 as of Jan. 1, 2024.
Minimum wage laws were designed to end the exploitation of workforces and ensure that a country's working population doesn't fall below the poverty line. The Fair Labor Standards Act (FLSA)establishes the minimum wage affecting full-time and part-time workers in the private sector and federal, state, and local governments. Debate surrounds the esta...
The minimum wage is sometimes contrasted with the living wage, an hourly salary that would allow someone to live comfortably if they are working full time. The minimum wage is established by law but a living wage is calculated based on factors such as average rents, costs of living, transportation, and childcare costs. The federal minimum wage was ...
The Fair Labor Standards Act (FLSA) established the minimum wage which is $7.25 per hour as of January 2024. The government periodically assesses the federal minimum wage level but the rate has not increased since July 2009. Individual states, cities, and localities can pass minimum wage requirements that are different from the federal rate as long...
- Daniel Liberto
Dec 6, 2023 · The federal minimum wage is $7.25 per hour for covered nonexempt workers. Some states and cities have higher minimum wages, which apply if they are different from the federal rate.
Mar 29, 2022 · The federal minimum wage is $7.25 per hour, but some states and cities have higher rates. Learn about the history, purpose, and arguments for and against a $15 minimum wage in the U.S.
- Kimberly Amadeo
The federal minimum wage is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both.
The Fair Labor Standards Act (FLSA) establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting most full-time and part-time workers in the private sector and in federal, state, and local governments.
