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The TurboTax Blog > Income and Investments > A Look at 30 Years of U.S. Minimum Wage [Interactive]

A Look at 30 Years of U.S. Minimum Wage [Interactive]

Income and Investments

Where did summer go?  Labor Day is already here and for many hard working Americans, it’s a time to relax and celebrate our hard work for the year.  It also marks the end of summer and is typically the time for students to get used to waking up before noon and head back-to-school.  In honor of hard working Americans we thought we would take a look at how minimum wage rates have changed over 30 years.

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  1. Needs context. What does $7 an hour mean in terms of yearly income? Has the minimum wage kept pace with inflation? Is this a living standard or is it poverty?

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