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Link: https://flowingdata.com/2021/03/01/how-much-minimum-wage-changed-in-each-state/

This is a neat page I ran into this morning that shows how minimum wage has changed on both the federal and state level since 1968. I suppose we could discuss the minimum wage in this topic if there's interest...there's a push to make it $15/hour at the federal level, and a few states have either already done so or are in the process of doing so. I really just thought it was a neat chart, though.

Please use said page in combination with this tool, so you don't fall prey to the 'tragic misconception' (in quotes because he obviously fucking knows better, and if he doesn't his aides are morons) that Senator Thune so dramatically fucked up on.

Thanks Doc, I'm a bit of a causal on this topic so I wasn't aware of that.

Here's a quick and dirty graph comparing the minimum wage each year in that year's dollar amount (Y$) versus the minimum wage of each year in 2021 dollars to account for inflation (2021$). (This is assuming both sources of data -- the annual minimum wage and inflation calculator -- are correct.)

Spoiler

Note that this graph does not take into account worker productivity, which naturally increases each year as technology advances and more efficient processes are implemented. As workers are increasingly more productive, they should in turn reap the proportionally greater rewards of their greater productivity. When they don't, we see corporate executives and shareholders disproportionately reaping the rewards, which is why the rich are getting richer while the working class struggles and the middle class shrinks. This is why progressives are calling for at least a $15 an hour minimum wage and not settling for $10 per hour that was the average in the 70s.

Also, because the jump up to $15/hr would take place gradually over the course of several years, the minimum wage would be less than $15/hr as inflation will have reduced its purchasing power by that time.

Arkansas had the highest ~2000.
Dang

I'll also add that State minimum wage versus city minimum wage is a similar situation as State versus federal.  For example...Colorado's minimum wage currently is just above $12.  However, Denver's minimum wage specifically is $14.77, and Boulder's is just above 17.

Likewise, WA's current minimum wage is $13.69, but Seattle's specifically is just shy of $17.

How does one come to a minimum wage of $14.77 rather than just $14, $14.50, or $15? That is oddly specific, lol. Is it tied to inflation?

I actually haven't a clue.  I've always wondered why they don't just round to the nearest dollar or 50 cent rather than going exact centage.

I guess it's a good thing everything's digital now and employers don't need to stock up on pennies to pay it.

Adding onto Gerrick's point:

Federal minimum wage vs what it should be if it rose with productivity

source