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View Diary: And the first state to pass a $10.10 minimum wage is ... Connecticut! (42 comments)

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  •  Actually, it would be closer to $11 (0+ / 0-)

    per this graph.

    On the other hand, assuming an increase in the cost of living (inflation, CPI, call it what you want), to equate to the minimum wage 1971, the amount in 2017 should be $11.50, more than the expected $10/$10.10 amounts the various state laws will set it to.

    •  revising & extending my min wage remarks (0+ / 0-)

      From the DOL Fed min wage table: 1968 => $1.60 and BLS
      inflation calculator => $10.79 (2014).  I don't know where I was getting "~$15".  I must have mixed it up with some other stats.  However the $22 rate comes from Senator Warren's Q&A in a hearing on min wage.  Whether that includes productivity and inflation adjustment is not clear.The 1968 minimum wage remained at $1.60 until 1974.

      llywrch, I'm puzzled where you got the $11.50 seeing as we don't know what inflation will do in the next three years.  How did you calculate it?

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