Minimum Wage
As of September, 1997, minimum wage was $5.15 per hour, relatively low by historical terms.
- For example, the 1968 minimum wage of $1.60 was worth $7.21 in today’s buying power (Statistical Abstract, 1998, Table 699)
A full-time, year around worker at minimum wage would make about $10,300 annually ($5.15 x 2000 hrs.).
This is still $3000 below poverty level for a family of three.