16 Years of Stagnant Minimum Wage: A Struggle Against Rising Living Costs

The stagnation of the federal minimum wage at $7.25 per hour since July 24, 2009, erodes its purchasing power. For full-time employees, this results in an annual income of $15,080 based on a 40-hour work week. As living costs continue to surge, the value of the federal minimum wage, which reached its buying power zenith in 1968 at $15.09 in 2025 dollars, is diminishing significantly.Currently, 20 states uphold a minimum wage matching the federal level, while five states lack a state minimum altogether. In Louisiana, for instance, median hourly wages for home health aides only reach $10.18. Although some states have enacted wage increases, many still lag behind the 1968 standard. Data shows that national low-wage workers, exceeding 14 million, earn below $15 an hour. Evidence consistently indicates that elevating the minimum wage yields positive outcomes for both employees and businesses alike. Changing this wage floor is critical for economic stability. Holly Sklar leads the charge at Business for a Fair Minimum Wage.