Friday, April 24, 2015

The Real Minimum Wage

Just a quick chart showing the dates and levels of the nominal wage, and how that was affected by inflation:

I think this chart partially supports a claim I’ve made in class: that if you like the idea of raising the minimum wage occasionally, this might not be a bad time because it isn’t that high in real terms (and because if the country swings conservative in 2016, inflation will slide the real minimum wage much further downhill to the right).

Drawn from "McDonald’s Joins Trend in Raising Pay" in the April 1 issue of The Wall Street Journal (the full article is not required).

No comments:

Post a Comment