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Source: U.S. Department of Labor
Release: Minimum Wage Rates
Units: Dollars per Hour, Not Seasonally Adjusted
Frequency: Monthly
The federal minimum wage is the minimum hourly wage employers are required to pay employees who are eligible under the Fair Labor Standards Act (FLSA) of 1938. The FLSA was generally only applicable to employees involved in interstate commerce, either directly or through the creation of goods. Many amendments have since been added to the FLSA, expanding its coverage and raising the minimum wage. Significant amendments occurred in 1961 and in 1966, when a separate minimum wage for farm workers was established. Starting in January of 1978 the minimum wages of all eligible workers, including farm workers, were made uniform. The values in the series for non-farm workers are those for the groups initially covered under the 1938 FLSA. Many states also have minimum wage laws. Some state laws provide greater employee protections; employers must comply with both.
For additional information go to: http://www.dol.gov/whd/minwage/coverage.htm or http://www.dol.gov/whd/minwage/chart.htm#fn3
U.S. Department of Labor, Federal Minimum Hourly Wage for Nonfarm Workers for the United States [FEDMINNFRWG], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FEDMINNFRWG, February 1, 2023.
Source: U.S. Bureau of Labor Statistics
Release: Consumer Price Index
Units: Index 1982-1984=100, Not Seasonally Adjusted
Frequency: Monthly
Handbook of Methods
Understanding the CPI: Frequently Asked Questions
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items in U.S. City Average [CPIAUCNS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPIAUCNS, February 1, 2023.
Source: U.S. Bureau of Economic Analysis
Release: Gross Domestic Product
Units: Billions of Dollars, Not Seasonally Adjusted
Frequency: Annual
BEA Account Code: A191RC
U.S. Bureau of Economic Analysis, Gross Domestic Product [GDPA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDPA, February 1, 2023.
Source: U.S. Bureau of Economic Analysis
Release: Gross Domestic Product
Units: Millions of hours, Not Seasonally Adjusted
Frequency: Annual
BEA Account Code: B4701C
For more information about this series, please see http://www.bea.gov/national/.
U.S. Bureau of Economic Analysis, Hours worked by full-time and part-time employees [B4701C0A222NBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/B4701C0A222NBEA, February 1, 2023.
Consumer Price Index for All Urban Consumers: All Items in U.S. City Average
Monthly, Seasonally Adjusted Semiannual, Not Seasonally AdjustedGross Domestic Product
Annual, Not Seasonally Adjusted Quarterly, Seasonally Adjusted Annual Rate Index 2012=100, Quarterly, Not Seasonally Adjusted Millions of Dollars, Quarterly, Not Seasonally Adjusted Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual RateAre you sure you want to remove this series from the graph? This can not be undone.