U.S. Census Bureau Daily Feature for January 5: Minimum Wage
WASHINGTON, Jan. 5, 2016 /PRNewswire-USNewswire/ -- Following is the daily "Profile America" feature from the U.S. Census Bureau:
Profile America — Tuesday, January 5th. The business world was confronted with a new idea on this date in 1914, when Henry Ford announced that he would reduce the workday from nine to eight hours and pay his factory assembly line workers a minimum wage of $5 a day, which is more than $118 in current dollars. The idea eventually gained general acceptance, and in 1938, President Franklin D. Roosevelt signed into law a federally mandated minimum wage of 25 cents an hour. Currently, the hourly minimum wage is $7.25. There are nearly 76 million hourly workers in the U.S., 3.3 million of them paid at or below the minimum wage. Households in the bottom 20 percent of income earn no more than $21,432 per year. You can find more facts about America from the U.S. Census Bureau online at www.census.gov.
Ford firsts/accessed 11/13/2015: http://corporate.ford.com/company/history.html
Inflation adjustment: http://www.westegg.com/inflation/
Initial and current minimum wages/accessed 11/13/2015: http://www.dol.gov/whd/minwage/chart.htm
Hourly workers/table 2/accessed 11/13/2015: http://www.bls.gov/cps/minwage2013.pdf
State data/ accessed 11/13/2015: http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx
Household quintiles/All Races table: http://www.census.gov/hhes/www/income/data/historical/household/index.html
Profile America is produced by the Center for New Media and Promotions of the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on the Internet at http://www.census.gov (look for "Multimedia Gallery" by the "Newsroom" button).
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SOURCE U.S. Census Bureau