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The Federal and State Minimum Wage Growth, and Inflation The Federal and State Minimum Wage Growth, and Inflation For some time now, the United States House and
well as local transit, construction, and gasoline service station employees. ? 1966 - Amendments to the minimum wage law extend coverage to state and local government
an occurrence known as the "spillover effect." 2.The number of workers indirectly affected by a federal minimum wage increase is calculated separately for each state
and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments. Covered nonexempt workers
a minimum wage increase, raising the wage to $7.15 in 2003. Some of the strongest job growth in the country over the last few years has been seen in Alaska. Alaskans
Submitted by boog7779 on May 19, 2008
Category: Social Issues
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The Federal and State Minimum Wage Growth, and Inflation
For some time now, the United States House and Senate has predominately been controlled by the Republican Party. The November 2006 elections changed that. After the elections the Democratic Party gained control of both. With that came the issue of the federal minimum wage. Democrats wanted to increase the minimum wage from $5.15/hr to $7.00/hr. This was a highly debated topic, because many Americans, myself included, didn’t feel that the minimum wage coincided with the cost of living or the inflation rate. The two parties were basically split, by party, on whether or not to vote for the increase. Both had valid points for and against, and the vote was close. However the change was not voted through, and for right now it remains at $5.15/hr at the federal level. Although it didn’t pass federally, individual states were able to bring about their own change. Those against the increase argued that the effects of an increase might hurt the economy. In this paper I’ll examine the history of the minimum wage, arguments for a minimum wage increase, and some of the arguments against an increase.
Throughout the history of the minimum wage there have been numerous increases at the federal level. However, the rate of inflation has also grown at a rapid rate and throughout time has actually worn the buying power of the minimum wage. Today’s minimum wage rate pales in comparison to what it was worth in the early stages of the minimum wage.
The federal minimum wage was introduced in the Fair Labor Act of 1938, and although the cost of living has increased substantially since it was put into effect, the federal minimum wage has not increased with the same vigor. In 1980 and 1981 the minimum wage went from $3.10-$3.35 respectively, without another increase until 1990 when President George H.W. Bush signed an increase in 1990, increasing it to $3.80/hr. Throughout the 1990’s there were three...
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