The average American voter wants a $26 per hour minimum wage

Americans are in favor of raising the minimum wage well above $20, according to a new poll.Read more……

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Inflation has gone up, but the federal minimum wage has stayed fixed

The current federal minimum wage is $7.25. It was set in 2009—a full 14 years ago—making the period since then the longest the US has gone without a rise in statutory pay. The Economic Policy Institute estimates that the minimum wage today has 17% less purchasing power than it did 10 years ago, while the Bureau of Labor Statistics shows that one 2023 dollar is worth just $0.71 in 2009 dollars.

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States have set higher minimum wages, but they all fall short of $20

Dean Baker, a senior economist at the Center for Economic and Policy Research, a progressive think tank, said in 2021 that the minimum wage should be $23 per hour if kept in line with the US’s growth in economic productivity.

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But no state, as yet, reaches that level of minimum pay. California’s minimum wage is currently the highest, at $15.50, while the District of Columbia has a minimum wage of $16.50, set to be increased to $17 on July 1 this year.

In 2021, president Joe Biden raised the minimum wage for federal contractors to $15 per hour, while this year dozens of states raised their minimum wage, although they stayed mostly under the $15 mark.

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Bernie Sanders has a $17 per hour minimum wage plan

Earlier this month, senator Bernie Sanders announced a plan to increase the federal minimum wage to $17 per hour over the span of five years. The bill is set to be introduced on June 14 by the Senate Committee on Health, Education, Labor and Pensions.

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💵 Walmart’s new minimum wage hike points to enduring retail labor crunch

🤏 Nearly 99% of US hourly workers earn more than the federal minimum wage 

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