TIL Minimum wage has only increased by $7.00 in 85 years in the USA.
TIL Minimum wage has only increased by $7.00 in 85 years in the USA.
Upon inception it was set at $0.25. It is now $7.25.
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There are lies, damn lies, and then there's statistics.
Im not here to say the minimum wage doesnt need to be raised, because it does, but another way of putting that is
"The minimim wage has increased 1500% in 85 years."
That sounds a lot better even though its the same thing.
Meanwhile the cost of living has increased 2077% in 85 years.
CYBERPUNK REFERENCE??!??!
and now two people work
that actually makes it worse because housework still needs to be done.
i must be doing my math wrong or something, is it not 2800% (i.e. 29x original)?
7.25 / 0.25 is indeed 29, therefore a 2800% increase is correct.
Thus, another dishonest way of stating this number is that it has increased almost 33% for each year since it was first implemented. (Not per year)
Thanks for making me chuckle.
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