The first federal minimum wage (signed into law by President Franklin D. Roosevelt) was $0.25 an hour, effective October 24, 1938. In today's dollars, that's equal to $4.59 an hour.
In 1938, a new house cost about $3,900. A gallon of gas cost $0.10.
Source: US Department of Labor, Business Insider
The federal minimum wage was raised to $0.30 an hour, effective October 24, 1939. It remained the same until October 24, 1945. Thirty cents in 1940 was equal to $5.51 in today's dollars.
In 1940, the median value of a single-family home in the US was $2,938 (equivalent to $53,927.83 in today's dollars). That year, a gallon of gas cost $0.18.
Source: US Department of Labor, US Census Bureau, Energy.gov
The federal minimum wage was raised to $0.40 an hour, effective October 24, 1945. It remained the same until January 25, 1950. Forty cents in 1945 is equal to $5.68 in today's dollars.
In 1950, the median value of a single-family home in the US was $7,354 (equivalent to $76,509.59 in today's dollars). That year, a gallon of gas cost $0.27.
Source: US Department of Labor, US Census Bureau, Energy.gov
The federal minimum wage was raised to $0.75 an hour, effective January 25, 1950. It remained the same until March 1, 1956. In today's dollars, $0.75 in 1954 is equal to $7.19.
In 1954, a gallon of gas cost $0.29. Home value data from the US Census isn't available for this time period.
Source: US Department of Labor, Energy.gov
The federal minimum wage was raised to $1.00 an hour, effective March 1, 1956. In today's dollars, that's equal to $9.55.
In 1960, the median value of a single-family home in the US was $11,900 (equivalent to $103,660.70 in today's dollars). That year, a gallon of gas cost $0.31.
Source: US Department of Labor, US Census Bureau, Energy.gov
The federal minimum wage was raised to $1.15 an hour, effective September 3, 1961. In today's dollars, that's equal to $9.85.
In 1963, the median sales price of newly-constructed homes sold in the US was $18,000 (equivalent to $151,656.79 in today's dollars). That year, a gallon of gas cost $0.31.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $1.25 an hour, effective September 3, 1963. In today's dollars, that's equal to $10.43.
In 1965, the median sales price of newly constructed homes sold in the US was $20,000 (equivalent to $162,128.71 in today's dollars). That year, a gallon of gas cost $0.30.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $1.40 an hour, effective February 1, 1967. In today's dollars, that's equal to $10.68.
In 1967, the median sales price of newly constructed homes sold in the US was $22,700 (equivalent to $173,095.25 in today's dollars). That year, a gallon of gas cost $0.32.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $1.60 an hour, effective February 1, 1968. In today's dollars, that's equal to $11.65.
In 1970, the median sales price of newly constructed homes sold in the US was $23,400 (equivalent to $173,095.25 in today's dollars). That year, a gallon of gas cost $0.35.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $2.00 an hour, effective May 1, 1974. In today's dollars, that's equal to $10.49.
In 1974, the median sales price of newly constructed homes sold in the US was $35,900 (equivalent to $188,272.79 in today's dollars). That year, a gallon of gas cost $0.39.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $2.10 an hour, effective January 1, 1975. In today's dollars, that's equal to $10.07.
In 1975, the median sales price of newly constructed homes sold in the US was $39,300 (equivalent to $188,415.64 in today's dollars). That year, a gallon of gas cost $0.53.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $2.30 an hour, effective January 1, 1976. In today's dollars, that's equal to $10.41.
In 1976, the median sales price of newly constructed homes sold in the US was $44,200 (equivalent to $199,969.20 in today's dollars). That year, a gallon of gas cost $0.57.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $2.65 an hour, effective January 1, 1978. In today's dollars, that's equal to $10.44.
In 1978, the median sales price of newly constructed homes sold in the US was $55,700 (equivalent to $219,531.47 in today's dollars). That year, a gallon of gas cost $0.62.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $2.90 an hour, effective January 1, 1979. In today's dollars, that's equal to $10.31.
In 1979, the median sales price of newly constructed homes sold in the US was $62,900 (equivalent to $223,563.83 in today's dollars). That year, a gallon of gas cost $0.63.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $3.10 an hour, effective January 1, 1980. In today's dollars, that's equal to $9.63.
In 1980, the median sales price of newly constructed homes sold in the US was $64,600 (equivalent to $200,731.81 in today's dollars). That year, a gallon of gas cost $0.86.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $3.35 an hour, effective January 1, 1981. It remained at that level for nearly a decade.
The value of $3.35 in 1981 was equal to the buying power of $9.50 today. The value of $3.35 by 1990 was just $6.73 in today's dollars.
In 1981, the median sales price of newly constructed homes sold in the US was $68,900 (equivalent to $201,427.86 in today's dollars) and a gallon of gas cost $1.19. In 1990, the median sales price of newly-constructed homes sold in the US was $122,900 (equivalent to $246,735.19 in today's dollars) and a gallon of gas cost $1.00.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $3.80 an hour, effective April 1, 1990. In today's dollars, that's equal to $7.42.
In 1991, the median sales price of newly constructed homes sold in the US was $120,000 (equivalent to $234,322.80 in today's dollars). That year, a gallon of gas cost $1.14.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $4.25 an hour, effective April 1, 1991. In today's dollars, that's equal to $8.00.
In 1994, the median sales price of newly constructed homes sold in the US was $130,000 (equivalent to $224,205.50 in today's dollars). That year, a gallon of gas cost $1.11.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $4.75 an hour, effective October 1, 1996. In today's dollars, that's equal to $7.70.
In 1996, the median sales price of newly constructed homes sold in the US was $140,000 (equivalent to $226,837.07 in today's dollars). That year, a gallon of gas cost $1.23.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $5.15 an hour, effective September 1, 1997. It remained at that level for nearly a decade.
The value of $5.15 in 1997 was equal to the buying power of $8.20 today. The value of $5.15 by 2007 had decreased to just $6.36 in today's dollars.
In 1997, the median sales price of newly-constructed homes sold in the US was $146,000 (equivalent to $232,598.91 in today's dollars) and a gallon of gas cost $1.23. In 2007, the median sales price of newly constructed homes sold in the US was $247,900 (equivalent to $306,343.64 in today's dollars) and a gallon of gas cost $2.80.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $5.85 an hour, effective July 4, 2007. In today's dollars, that's equal to $7.16.
In 2008, the median sales price of newly constructed homes sold in the US was $232,100 (equivalent to $277,640.97 in today's dollars). That year, a gallon of gas cost $3.27.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $6.55 an hour, effective July 24, 2008. In today's dollars, that's equal to $8.01.
In 2009, the median sales price of newly constructed homes sold in the US was $216,700 (equivalent to $261,143.62 in today's dollars). That year, a gallon of gas cost $2.35.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
The federal minimum wage was raised to $7.25 an hour, effective July 24, 2009. It hasn't increased in over a decade. Meanwhile, the median sales price of newly constructed homes sold in the US reached an all-time high of $326,400 in 2018.
Source: US Department of Labor, US Census Bureau and US Department of Housing and Urban Development via FRED, Energy.gov
I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
Catan adds climate change to the latest edition of the world-famous board game
Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
Next Story