Although minimum wage is not nearly as low as it used to be, America still has a long way to go when it comes to compensating its workers. The federal minimum wage is currently at $7.25, a number that has stayed the same since 2009.
But even with no recent changes from the federal government, things appear to be moving in the right direction. In July 2019, the U.S. House passed a bill that would raise the minimum wage to $15 per hour by 2025, which could increase the incomes of 17 million to 27 million minimum wage workers, according to Bloomberg. And minimum wage is currently a hot topic as Democrats try to raise it.
In the meantime, several states and localities have taken it upon themselves to raise their own minimum wages. Recently, Illinois, Nevada and Oregon all raised their minimum wages, USA Today reported. Illinois’ minimum wage rose from $9.25 to $10; Nevada’s minimum wage rose from $7.25 to $8 for workers with health insurance, and from $8.25 to $9 for those without health coverage; and Oregon’s minimum wage rose from $11.25 to $12. In addition, 18 municipalities and three counties announced minimum wage increases.
The rise in the minimum wage seems hopeful; however, due to inflation and the rising cost of living, that amount might not be enough in the future. Take a look at how minimum wage has dramatically morphed throughout the years.
2000
U.S. minimum wage: $5.15
In 2020 dollars: $7.87
2001
U.S. minimum wage: $5.15
In 2020 dollars: $7.59
2002
U.S. minimum wage: $5.15
In 2020 dollars: $7.50
2003
U.S. minimum wage: $5.15
In 2020 dollars: $7.31
2004
U.S. minimum wage: $5.15
In 2020 dollars: $7.17
2005
U.S. minimum wage: $5.15
In 2020 dollars: $6.97
2006
U.S. minimum wage: $5.15
In 2020 dollars: $6.70
2007
U.S. minimum wage: $5.85
In 2020 dollars: $7.46
2008
U.S. minimum wage: $6.55
In 2020 dollars: $8.01
2009
U.S. minimum wage: $7.25
In 2020 dollars: $8.86
2010
U.S. minimum wage: $7.25
In 2020 dollars: $8.63
2011
U.S. minimum wage: $7.25
In 2020 dollars: $8.49
2012
U.S. minimum wage: $7.25
In 2020 dollars: $8.25
2013
U.S. minimum wage: $7.25
In 2020 dollars: $8.12
2014
U.S. minimum wage: $7.25
In 2020 dollars: $8
2015
U.S. minimum wage: $7.25
In 2020 dollars: $8
2016
U.S. minimum wage: $7.25
In 2020 dollars: $7.89
2017
U.S. minimum wage: $7.25
In 2020 dollars: $7.70
2018
U.S. minimum wage: $7.25
In 2020 dollars: $7.55
2019
U.S. minimum wage: $7.25
In 2020 dollars: $7.43
2020
U.S. minimum wage: $7.25
In 2020 dollars: $7.25
