Federal minimum wage stuck at $7.25 for record 13 years despite tight labor market driving real minimums up
-
The federal minimum wage has remained $7.25/hour since 2009, the longest period without an increase since 1938.
-
Just 141,000 workers earned the federal minimum in 2022, down from 392,000 in 2019.
-
Attempts to raise the federal minimum, like to $15/hour, have failed due to political polarization.
-
Many employers now pay above the minimum wage due to a tight labor market, with the "real" minimum being $15-18/hour.
-
Research shows large minimum wage hikes, like $7.25 to $15, boost employment, contrary to claims they kill jobs.