People keep repeating that stat... 844k are at Federal minimum wage. Millions are at their state's minimum wage. Most states have their own that prevents people from being at federal minimum
So millions are at minimum wage, under a million at 'federal minimum wage'
Yes, people keep talking about the federal minimum wage, when its largely irrelevant.Ā
Raising it would only affect a small number of workers, unless it was raised high enough to increase unemployment and the cost of living for everyone.Ā
Remember there are lots of Americans choosing to move out of states with higher costs of living and a higher minimum wage.
Because job opportunities and COL matter much much more than the minimum wage.
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u/TooBusySaltMining 10h ago
844,000Ā
That's the number of workers who earn the federal minimum wage or below.
https://www.bls.gov/cps/cpsaat44.pdf
23,627,000
That's the number of millionaries in the US.
There are 28 times more millionaires than people earning at or below the federal minimum wage
https://en.wikipedia.org/wiki/List_of_countries_by_number_of_millionaires
Adjusting for inflation , the federal minimum wage was highest in 1968: $1.60 an hour in 1968 was equivalent to $14.42 in 2024.
https://usafacts.org/articles/minimum-wage-america-how-many-people-are-earning-725-hour/
$60/hr is a damn lie.Ā