1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20040Updated January 24, 2005Inflation and the Real Minimum Wage:Fact SheetBrian W. CashellSpecialist in Quantitative EconomicsGovernment and Finance DivisionSummaryThe Fair Labor St
2、andards Act of 1938 established the hourly minimum wage rateat 25 cents for covered workers. Since then it has been raised 19 separate times, in partto keep up with rising prices. Most recently, in September 1997, it was increased to$5.15. Because there have been some extended periods between these
3、adjustments,there has been substantial variation in the real value of the minimum wage. This reportwill be updated periodically. For more information on the minimum wage, see CRSReport RS21481.The Real Minimum WageBecause the minimum wage is not indexed to the price level, it has been legislativelyi
4、ncreased from time to time to make up for the loss in its real value due to inflation. Innominal terms, the minimum wage has risen steadily since 1938 from 25 cents an hourto $5.15 where it now stands. But the legislated adjustments to the minimum wage haveoccurred at irregular intervals. As a resul
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