What is the Minimum Wage in the United States, and Is It Fair?
If you’ve recently asked the question, “what is the minimum wage in the United States?” you might be surprised to learn it went up again–from $5.85/hour to $6.55/hour–on July 24. After all, the federal minimum wage was $5.15 for a decade, until last year, when legislation mandated three increases over three years. In 2009, the minimum wage will rise again, to $7.25. In calculating the yearly earnings of a minimum-wage earner at the current rate, it comes out to about $13,100/year (before taxes). That hardly seems like a reasonable income, even if you’re living in a very low cost-of-living area. It also begs a few questions: Should there be a minimum wage law? Is the current law fair? In considering questions about what is the minimum wage in the United States and whether it’s fair, it helps to understand that many angles frame the debate on the issue. One angle examines just who is earning the minimum wage. As of 2007, minimum-wage workers: • Tend to be young; almost half are under 25.
