Minimum Wage – $7.25 Is A Decade Old
Minimum wage is almost a teenager!
When I was just getting into the workforce after graduating high school in the early 90's the federal minimum wage was $4.25.
Over the years it has gradually increased until 2009 when it was $7.25 and that benchmark has been in effect now for ten years.
According to KLTV, while many are trying to raise the minimum wage across the board other states are taking matters into their own hands.
SeaTac, Washington was the first city to put in place a $15 minimum wage and other states like Seattle, San Francisco, New York City, New York State and even all of California.
Even companies like Walmart, McDonald's, are making strides to pay their employees $15 and hour and Amazon put that rule in effect in 2018.
The House Democrats has approved legislation to raise the federal minimum wage to $15 dollars an hour and awaits a Republican controlled Senate to become law.
Did you know according to the CPI Inflation Calculator, today's prices in 2019 are 19% higher than the average prices in 2009?
The break it down a little better, $7.25 in 2009 is equal in value to the amount of $8.66 in 2019 which is a difference of $1.41 over 10 years.
Can we please wake up and get with the times please?