Minimum Wage Raise Too Little, Too Late

by Holly Sklar

Minimum wage workers have been stuck in a losing game of “Mother May I” with the federal government. Workers step forward when the government says yes to raising the minimum wage. Workers step backward when the cost of living increases, but the minimum wage doesn’t.

Until 1968, minimum wage workers took frequent and big enough steps forward to make overall progress. Since 1968, when the minimum wage reached its peak buying power, workers have taken many steps backward for every step forward.

The July 24 minimum wage raise is so little, so late that workers will still make less than they did in 1997, adjusting for the increased cost of living, and way less than in 1968.