For years, the real value of the minimum wage has been chipped away by inflation. In real (inflation-adjusted dollars), the current wage of $7.25 per hour is over 30% lower than it was in 1968. (source: NELP)
In his State of the Union address, President Obama called for two critical steps to reverse this trend:
- Raising the minimum wage to $9 per hour
- Indexing it for inflation moving forward, to keep up with real prices
These are sensible steps, and we should take them immediately. A 30% decrease in real earnings for hard working Americans is inexcusable, and it’s high time for us to do something about it.
Stand with President Obama, send a message, and support an increase in the minimum wage.