Several decades ago, the minimum wage in 1975 in America was only $2.10 an hour. Today, that same wage is $7.25, and a lot has changed since then. Despite the recent inflation, the minimum wage has remained the same for the past five years. However, this does not mean that things are better now. The minimum wage was lower in 1975. Let’s look at what it was in 1975 and how it has changed.
In 1975, 65 percent of salaried workers earned less than the threshold. Because they are paid on a regular schedule, they have a guaranteed minimum amount each pay period. In 1975, nearly two-thirds of salaried workers were protected from overtime, but that percentage has fallen dramatically over time. In 2013, only 11 percent of salaried workers earned less than this amount. So, is the minimum wage in 1975 still relevant today?
The FLSA was amended in November 1977. These changes made it easier for businesses to pay minimum wage to their employees. In the retail trade, for example, the minimum wage increased from $1.60 an hour to $2.25 an hour. This change was made to help small business owners make more money. As a result, the minimum wage was raised again. The new law also enacted a training wage for those workers who are working at home.
The share of salaried workers who earn less than the minimum wage in 1975 is lower today. The share of workers below the salary threshold was higher for people with more education in 1975 than it is now. Higher-level jobs now account for the decrease in overtime protections. So, is the minimum wage in 1975 still fair? The data in the table are not conclusive. The data are too confusing, but it provides an interesting perspective on how the minimum wage works in the United States today.
The Minimum Wage in 1975 was not much different
The minimum wage in 1975 was not much different from today’s standard. Men and women ages 17 and over could be paid $2.10 an hour, while men and inexperienced employees in smaller towns and cities were paid $2.10. The cost of living has increased and the minimum wage has not kept pace. You can read more on the Minimum Wage page. And, as always, remember that this is just a guideline. You should check the minimum wage in 1975 before deciding on a particular job.
Currently, less than 2% of hourly workers are paid the federal minimum wage. However, the federal minimum wage does not account for regional variations in costs. Twenty states have followed the federal minimum wage while the rest have adopted higher rates. Many cities also legislated rates above the state minimums. So, while some workers might benefit from the new federal minimum wage, others may not be so happy with the change. If you are one of these two percent of hourly workers, it is time to raise the minimum wage! It is time to stop ignoring this growing problem.
The number of young people earning the minimum wage has increased considerably since 1975. The number of women entering the workforce has increased substantially. In 1975, only 17.4% of women aged 25 to 34 had a bachelor’s degree, while 40 percent of men did. While women have grown significantly in the past half century, the number of young men earning the minimum wage in 2015 has increased from 5% in 1975 to 11.8 percent today. A minimum wage of $5 an hour today would mean a median income of $29,000.
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