Minimum wage

The minimum wage is the minimum rate a worker can legally be paid (usually per hour) as set by statute. It is different from the lowest wage determined by the forces of supply and demand in a free market. In most cases, the minimum wage acts as a price floor. Each country sets its own minimum wage laws and regulations, and many countries have no minimum wage.

Minimum wage in the United States

The first attempt at establishing a minimum wage in the United States came in 1933, when a $.25-per-hour standard was set as part of the National Recovery Act. However, in 1935 the United States Supreme Court declared the National Recovery Act unconstitutional, and the minimum wage was abolished.

Related Topics:
1933 - National Recovery Act - 1935 - United States Supreme Court

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The minimum wage was re-established in the United States in 1938 (pursuant to the Fair Labor Standards Act), once again at $.25 per hour ($3.22 in 2005 dollars.) It had its highest purchasing value ever in 1968, when it was $1.60/hour ($8.85 in 2005 dollars.)

Related Topics:
1938 - Fair Labor Standards Act

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During his presidency, Bill Clinton gave states the power to set their minimum wages above the federal level. As of 2004, 12 states had done so; and on November 2 of that year two additional states (Florida and Nevada) approved increases in statewide referendums. Community organizing efforts initiated by ACORN were responsible for the Florida and Nevada increases. Some government entities, such as counties and cities, observe minimum wages that are higher than the state as a whole. Another device to increase wages, living wage ordinances apply only to businesses that are under contract to the local government itself. San Francisco's $8.50-per-hour minimum wage is the highest in the nation.

Related Topics:
Bill Clinton - 2004 - November 2 - Florida - Nevada - Referendum - Community organizing - ACORN - Living wage

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Many progressive politicians in the United States advocate linking the minimum wage to the Consumer Price Index, thereby producing small annual increases rather than the larger hikes that tend to be adopted when legislation to do so is passed. The vast majority of conservatives oppose this, but a few actually favor it, on the grounds that this would stop their opponents from, in their view, periodically exploiting the issue.

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In 2005, John Edwards and the community organization ACORN organized a national tour to promote both city, state, and national increase of minimum wages.

Related Topics:
John Edwards - Community organization - ACORN

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Some cite the behavior of the U.S. Congress in defeating increases in the federal minimum wage, currently $10,300 per year ($5.15 per hour for a 40 hour work week based on 50 work weeks annually) for the last eight years (from 1997 to 2005) at the same time as repeatedly acting to increase their own annual salary by $28,500 to $162,000 over the last few years as an example of hypocrisy.

Related Topics:
1997 - 2005 - Hypocrisy

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See List of U.S. state minimum wages.

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