Federal Minimum Wage
Research papers on the federal minimum wage can be written from the economic standpoint, historical aspect or tracing the government's role in setting the minimum wage. Paper Masters custom writes all our research papers so that your project on the federal minimum wage is unique and only written for you.
In 1938, during the Great Depression, the United States government established a federal minimum wage. This law dictates that workers cannot be paid less than the amount stipulated by the government. In 1938, the minimum wage was $0.25 an hour, which was raised to $0.30 in October 1939. Since July 24, 2009, the federal minimum wage is $7.25.
Facts Regarding the Federal Minimum Wage for a Research Paper
- Minimum wage remained at $3.35 from January 1981 to April 1990, when it was raised to $3.80, a period of over nine years.
- The longest period of time without a raise in the federal minimum wage was from September 1997 ($5.15) to July 2007, more than ten years later, when it was raised to $5.85.
- Many states have set minimum wages higher than the federal standard.
- In July 2014, Seattle, Washington set its minimum wage at $15 an hour, the highest in the nation.
There is controversy regarding the establishment of a federal minimum wage. In 2000, 75 percent of surveyed economists believed that a federal minimum wage increases unemployment among young and unskilled workers. Classical economics states that minimum wage laws prevent firms from offering low-paying jobs, keeping labor costs high.
In recent years, concerns have grown that the federal minimum wage is not a living wage. That is, due to inflation, a salary set at the federal minimum wage does not allow an individual to meet some of the basics of survival, such as affording food or rent.
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