Michael Snyder (TheEconomicCollapseblog.com) penned an article entitled “40 Percent Of U.S. Workers Make Less Than What A Full-Time Minimum Wage Worker Made In 1968”.
According to that article,
“American workers are not making as much [today] as they used to after you account for inflation. Back in 1968, the minimum wage in the United States was $1.60 an hour. That sounds very small, but after you account for inflation a very different picture emerges. Using the inflation calculator that the Bureau of Labor Statistics (BLS) provides, $1.60 in 1968 is equivalent to $10.74 today.”
Today’s minimum wage is $7.25.
Thus, according to the BLS, today’s minimum wage provides only two-thirds the purchasing power of the minimum wage of A.D. 1968.