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Buy custom The Federal and State Minimum Wage Growth, and Inflation

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Topic: Social Issues
Number of pages / Number of words: 8 / 2089
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(Economic Policy Institute [EPI], 2006) This shows that the federal minimum wage fails to grow at the same rate as the cost of living

After nearly a decade with no increase in the minimum wage, inflation has worn the buying power of the minimum wage by 17 percent. A full-time minimum-wage job no longer lifts a family above the poverty level...


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In 2005, a family of three with one adult working at minimum wage was deep in poverty (at only 67 percent of the poverty level). In comparison, that same family in 1969 earned 114 percent of the poverty level. If the minimum wage had kept pace with inflation since 1969, when it was $1.60 an hour, today it would be $8...


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