Minimum Wage

By Sadie Klug

The Statistics

1. The annual salary of a minimum wage worker is $15,080.

2. In 1968 the minimum wage was $1.60, but would be the equivalent of having $10.90 today when adjusting for inflation.

3. In order to afford a two bedroom apartment in Wisconsin on minimum wage, you would need to work 71 - 80 hours a week.

4. 13 states increase their minimum wage annually to keep up with the cost of living.

In My Opinion...

My Take On Minimum Wage

I think that there is definitely a problem, and we need to find a solution, and in a perfect world I would say go ahead and raise it. There needs to be an allowance for the rising cost of living. However, even though wages would increase, businesses would end up cutting more jobs.

Shocking Facts

1. Minimum wage was last raised in 2009.

2. Minimum wage has lost 5.8% of its spending power.

3. 50.6% of workers ages 16-24 are paid at or below the federal average for minimum wage.