Minimum Wage Topic

Minimum wages, over time, nominal vs 2012 dollars:

4/30/2014 2:35 PM
You're going to have to explain the relevance of the chart. I'm not sure wtf you're trying to convey here.
4/30/2014 2:37 PM
Adjusted for inflation, the minimum wage was higher in the 60's and 70's than it is now.
4/30/2014 2:50 PM
Hooray for the 60's and the 70's?
4/30/2014 3:29 PM
America at its economic peak---- high union membership, tax rates of 70% and up. strong middle class= everything repubs are against

wake up America!  Oust the tea partiers!
4/30/2014 3:53 PM
Posted by tecwrg on 4/30/2014 3:29:00 PM (view original):
Hooray for the 60's and the 70's?
Sort of. Also, ****, wages are low.
4/30/2014 4:07 PM
It's good to see you've latched onto another "LOOK AT ME!!!" social cause.  Congrats.
4/30/2014 4:28 PM
Posted by tecwrg on 4/30/2014 4:28:00 PM (view original):
It's good to see you've latched onto another "LOOK AT ME!!!" social cause.  Congrats.
Is that what I did? Or did I just post something that was interesting (to me, at least)?

You're very sensitive to my activity on here, mike jr.
4/30/2014 5:10 PM
It is an interesting piece of trivia, for sure.  It would be dangerously easy to draw false conclusions from the chart alone (ie:  interest rates are lower today than they were in the mid 90s, so it must have been harder to buy a home in the mid 90s), but it has me interested enough to look into the effects of the relative workforce/economic climates of the time periods.  I'd also be very interested to see a chart that shows the non-adjusted minimum wage as compared to the value of the dollar against foreign currencies across the same time period.
4/30/2014 5:32 PM
The main idea I get from it is, while minimum wage has increased over the last 60 years, the rest of the economy has grown much faster, making it harder to survive on $8 an hour in 2014 than it was to survive on less than $2 an hour in the late 60's.

I think that's a fairly basic fact.

What to do about it, though, is not as clear cut.

4/30/2014 6:04 PM

You're using its absolute peak value, a possible statistical outlier, to make that assertion.  Looking at this chart, the value of the minimum wage (in 2012 dollars) is as high as it's been in the last 30 years (save the 2010 spike).

5/1/2014 2:06 AM (edited)
45% increase since 2007 of min wage?  I wish I could have gotten 45% more in my paycheck since 2007.
4/30/2014 8:58 PM
Minimum wage is a Catch-22.   
5/1/2014 8:33 AM
Why is Spain?
5/1/2014 9:11 AM
Posted by MikeT23 on 5/1/2014 8:33:00 AM (view original):
Minimum wage is a Catch-22.   
Hey good job following me around and posting in my threads. Blocking me seems to be working out well for you.
5/1/2014 11:07 AM
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