Federal minimum wage in the US stands at $7.25 an hour.
It may not sound so low, but it is. If an employee works full time at the current minimum wage, that worker’s annual salary would be about $15,000. That falls below the poverty line for any family of more than one.
Adding insult to injury: The purchasing value of $7.25 today, adjusting for inflation, is actually 30 percent lower than it was four decades ago.