When the federal minimum wage increases from $6.55 to $7.25 this Friday, an estimated 4.5 million of America’s lowest paid workers will receive a raise. It’s an important step in supporting both economic growth and economic security in America.
However, the increase still leaves the real value of the minimum wage lower than it was 30 years ago. More troubling: minimum wage workers have achieved higher levels of education, one of the best measurable indicators of productivity – but wage gains haven’t followed.
More about this trend(opens in new tab) on the Economic Policy Institute’s website – also see EPI’ just released Minimum Wage Issue guide(opens in new tab).