The minimum wage has not kept pace with productivity
The federal minimum wage would have been $21.45 in 2020 if it rose in step with productivity.
Inflation-adjusted wage in 2020 dollars
Minimum wage if it matched productivity
$25
$21.45
$20
$15
$10
$7.25
$5
0
1940
’50
’60
’70
’80
’90
’00
’10
’20
Inflation-adjusted minimum wage in 2020 dollars
Minimum wage if it matched productivity
$25
$21.45
$20
$15
$10
$7.25
$5
0
1940
1950
1960
1970
1980
1990
2000
2010
2020
Inflation-adjusted minimum wage in 2020 dollars
Minimum wage if it matched productivity
$25
$21.45
$20
$15
$10
$7.25
$5
0
1940
1950
1960
1980
1990
2000
2010
2020
1970
