Cost of Living (US) and minimum wage

As far as I understand, with my poor otter brain, it hasn't. Further, if I recall correctly, adjusted for inflation (and not even purchasing power), the current minimum wage is under what it has been.

CNN has the numbers all of the way back to 1938 when the minimum wage was enacted. It looks like it's been up and down since then. The peak was in 1968 at $10.70 inflation adjusted and it's been roughly level since the early 80s.

http://money.cnn.com/interactive/econom ... ince-1938/

The biggest issue I have with a minimum wage increase is an order of addition problem. First do a stop loss on outsourcing jobs, Then raise the minimum wage.

My question is: what happened after 79/80 that caused the slow decline of workers wages when inflation adjusted? Prior to then, there was a pretty good min wage, but after that it slowly drops, and all increases only reset back a few years, before dropping again. its a game of catch up for the wage.


Whats probably really needed is a yearly increase indexed to an inflation meter, or several of them cross indexed. prevents multiple laws from having to be passed constantly to allow those at the bottom to stay afloat. That situation is what my union has with my work, every year i get an inflation equivalent wage rise, plus milestone years pay increases as well. over 4 years, my wage has gone from 10.60 USD to 13.10 equivalent, and the min has gone from 10.60 to 11.40. This will grow again next month, when the new agreements come into effect. by the end of this year, despite being a part time student, I will be at 12 to 12.10 equivalent per hour, thanks to my unions agreement with my work.