Money

 The Intellectualist: Minimum wage in:

2009: $7.25
2010: $7.25
2011: $7.25
2012: $7.25
2013: $7.25
2014: $7.25
2015: $7.25
2016: $7.25
2017: $7.25
2018: $7.25
2019: $7.25
2020: $7.25
2021: $7.25
2022: $7.25

If wages had kept pace with productivity gains since 1968, the min wage would be over $24

 

Bloomberg - New Yorkers who left for Miami last year saved almost 30% less than they would have if they moved in 2019, while those who left for Dallas or Austin saved about 20% to 25% less. And while Manhattan is still the most expensive place to live in the US, higher inflation rates in Miami, Dallas and Austin mean costs in those popular cities are catching up to New York, said Jaclyn DeJohn, managing editor of economic analysis at SmartAsset. Here’s the full breakdown of how Sunbelt savings have plummeted as housing and utility costs have risen. 

 

USA Facts  - As of 2022, 1.02 million hourly workers earned the federal minimum wage or less. That’s 1.3% of all hourly workers, the smallest percentage since data collection began in 1979.  Since its establishment in 1938 at $0.25 an hour, Congress has increased the federal minimum wage 22 times, with the most recent increase to $7.25 occurring in July 2009. After adjusting for inflation, the federal minimum wage was highest in 1968, equating to $14.01 in 2023 dollars.

Around 9% of hourly food preparation and service workers earn the minimum wage or less, as do 2.4% of people in personal care and service occupations, which includes barbers, childcare workers, manicurists, gambling service workers, and more.

Thirty states, plus Washington, DC, have minimum wages above the federal minimum. Wyoming and Georgia have wages below the federal minimum, which applies to some employees who are exempt from federal minimum wage laws.

Someone earning $7.25 an hour for 40 hours a week would make about $15,000 a year before taxes. In 2023, the poverty level for a single person younger than 65 was $15,852. The median annual gross pay for all Americans was $58,140.

 CNN - Prices at the pump are rising and industry experts anticipate they will keep going up in the coming weeks and months — especially if Russian oil facilities continue to get hit by drone attacks. This is an unwanted development for consumers heading into spring. It's also a problem for White House and Federal Reserve officials hoping to declare victory over inflation. The national average price for regular gas climbed to $3.48 a gallon today, according to AAA, up by 40 cents since mid-January. Although the US is pumping more oil than any country in history, this marks the first time since late last year that US gas prices are now higher on a year-over-year basis.