08-30-2017, 10:00 PM
Turns out the minimum wage purchasing power has been steadily falling since the 1970s..
![[Image: minimum-wage-inflation.png]](http://2oqz471sa19h3vbwa53m33yj.wpengine.netdna-cdn.com/wp-content/uploads/2017/08/minimum-wage-inflation.png)
Quote:By adjusting the minimum wage for the Consumer Price Index (CPI) over time, it shows that in the last 25 years there has been no real increase in the minimum wage. Inflation has quickly erased any adjustments, keeping it stagnant for years. Further, in real terms, the minimum wage peaked in value in 1968, just before Nixon severed the connection between the dollar and gold. In the inflationary years that followed, the real minimum wage eventually dropped to $6.77, a staggering 41.0% decrease. The real wage has basically hovered between $6.50 and $8.00 ever since.Infographic: Visualizing the Real Value of the Minimum Wage