The current federal minimum wage for covered nonexempt employees is $7.25 per hour.
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In which year was the real minimum wage the highest?</h3>
The purchasing power of the federal minimum wage has fluctuated; it was highest in 1968, when it was $1.60 per hour (equivalent to $12.47 in 2021).
The real value of the Federal minimum wage in 2016 dollars has decreased by one-third since 1968.
The federal minimum wage was last increased in 2009, when it rose to its current level of $7.25 per hour.
When adjusted for inflation, the high-water mark for minimum wage occurred in 1968, when it was the equivalent of about $12 per hour in today's dollars.
Although the federal minimum wage of $7.25 has not budged since 2009, nearly half of the country increased their minimum wages for hourly workers after January 1, 2022 to compensate their employees, and more than a dozen will provide additional increases going into 2023
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