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Article: CBPP: Federal Minimum Wage Remains Unchanged for Eighth Straight Year, Falls to 56-Year Low Relative to the Average Wage
- Article from:
- U.S. Newswire
- Article date:
- September 1, 2005
CopyrightCopyright 2005 U.S. Newswire. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON, Sept. 1 /U.S. Newswire/ -- Following is the latest New
Analysis from the Center on Budget and Policy Priorities:
Unhappy Anniversary: Federal Minimum Wage Remains Unchanged for
Eighth Straight Year, Falls to 56-Year Low Relative to the Average
Wage
By Jared Bernstein and Isaac Shapiro (1)
September 1, 2005 marks an unhappy anniversary for minimum-wage
workers. The federal minimum wage has remained at $5.15 an hour since
September 1, 1997. So for eight straight years the value of the
minimum wage has eroded due to the effects of inflation, and the wage
standard has fallen further behind the wages of other workers.
The minimum wage now equals only 32 percent of the average ...