IMPACT ON MINIMUM WAGE INDEXING

Impact on Minimum Wage Indexing



Impact on Minimum Wage Indexing

Minimum Wage Indexing

Since the Fair Labor Standards Act passed in 1938, the United States has legalized a least pay rate. The first least pay was $.25 per hour and included about 43% of non-supervisory pay and earnings workers. By 1991, the least pay had got higher to $4.25 per hour and included more than 88% of all non-supervisory employees. Because the least pay is in nominal time spans, its actual worth has fluctuated significantly over time. In 1978, the minimum's actual worth (in 1993 dollars) arrived at a ...