What would minimum wage be adjusted for inflation 2022

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The federal minimum wage was last increased in 2009, when it rose to its current level of $7.25 per hour. When adjusted for inflation, the high-water mark for minimum wage occurred in 1968, when.

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On July 1, 2022, the local minimum wage for eligible employers increases to $16.00/hour. To prevent inflation from eroding its value, the minimum wage will be adjusted by the local consumer price index annually. The City of Fremont understands the complexities involved in raising the minimum wage especially as it relates to small businesses.

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Jul 20, 2022 · After inflation, people making U.S. minimum wage are earning less now than 60 years ago. The federal minimum wage is at its lowest value since February 1956, analysis from the Economic Policy ....

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Due to political stalemates, the federal minimum wage remains frozen at a mere $7.25. Adjusted for inflation, this is the lowest minimum wage in decades. Although advances are being made at the state and local levels, without significant increases at the federal level, many workers will be left behind and feel the squeeze when inflation dilutes their pay—unable to.

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