Word: minimum
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...federal minimum wage?urrently $5.15?s set by Congress and is therefore dependent on politics, says Michael Reich, professor of economics at UC-Berkeley and research chair for the Institute of Labor and Employment...
...some states, the minimum wage?urrently $6.75 in Massachusetts?s aimed to be sufficient for a family to live...
...Decades ago, Reich says, the minimum wage was closer to being a ?iving wage.? In other words, the minimum wage was considered by the Federal government to be sufficient to live...
...although the cost of living continued to increase nationally throughout the 1980s, the minimum wage did not increase at a comparable rate, Reich says, leading to a ?reak?between the minimum and living wage...
...Labor economists who argue for a living wage note the 1968 minimum wage figure, which would currently reach at least $7.92 per hour when adjusted for inflation. In contrast, the current federal minimum wage is $5.15 per hour, though the national economy is nearly 60 percent more productive than it was three decades ago, Pollin says...