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Published by Statista Research Department, Jul 26, 2024
When adjusted for inflation, the 2024 federal minimum wage in the United States is over 40 percent lower than the minimum wage in 1970. Although the real dollar minimum wage in 1970 was only 1.60 U.S. dollars, when expressed in nominal 2024 dollars this increases to 13.05 U.S. dollars. This is a significant difference from the federal minimum wage in 2024 of 7.25 U.S. dollars.
Real and nominal value of the federal minimum wage in the United States from 1938 to 2024 (in 2024 U.S. dollars)
| Characteristic | Unadusted wage (real U.S. dollars) | Inflation adusted wage (nominal U.S. dollars) |
|---|---|---|
| 2024 | 7.25 | 7.25 |
| 2023 | 7.25 | 7.47 |
| 2022 | 7.25 | 7.95 |
| 2021 | 7.25 | 8.55 |
| 2020 | 7.25 | 8.67 |
| 2019 | 7.25 | 8.61 |
| 2018 | 7.25 | 9.02 |
| 2015 | 7.25 | 9.57 |
| 2010 | 7.25 | 10.32 |
| 2005 | 5.15 | 8.33 |
| 2000 | 5.15 | 9.41 |
| 1995 | 4.25 | 8.72 |
| 1990 | 3.8 | 9.2 |
| 1985 | 3.35 | 9.79 |
| 1980 | 3.1 | 12.29 |
| 1975 | 2.1 | 12.43 |
| 1970 | 1.6 | 13.05 |
| 1965 | 1.25 | 12.36 |
| 1960 | 1 | 10.53 |
| 1955 | 0.75 | 8.66 |
| 1950 | 0.75 | 9.84 |
| 1945 | 0.4 | 6.93 |
| 1940 | 0.3 | 6.66 |
| 1938 | 0.25 | 5.43 |
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Release date
July 2024
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Survey time period
1938 to 2024
Age group
Supplementary notes
Nominal figures adjusted to 2024 dollars using the Consumer Price Index for All Urban Consumers.
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Statistics on " Minimum wage in the United States "
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