Minimum wage has followed productivity and prices of minimum wage jobs
Created on January 29, 2014
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In 1987, the federal minimum wage was $3.35 per hour. After adjusting for inflation and productivity in the fast-food sector, that figure would equate to $7.67 per hour today— just above the current federal minimum wage of $7.25 per hour and the average minimum wage of $7.57 across all the states.
Keywords: minimum wage, federal, productivity
Source: Heritage Foundation calculations based on data from the U.S. Department of Labor, Bureau of Labor Statistics.