Minimum Wage Has Not Kept Pace

First Read: “Today’s minimum wage is on par with what it has been, adjusted for inflation, over the last 20 years. But the flattening of the minimum wage is part of a generational decline. In short, as fast-food workers protest their wages today across the country and urge a minimum-wage increase, public policy has not kept up with how much things cost. The minimum wage peaked in 1968. Even though it was just $1.60, it had the buying power today of $10.74. But from then on, despite the raw minimum wage being increased 14 times, it has not kept pace with inflation.”

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