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In 1938, the Fair Labor Standards Act established it at 25¢ an hour ($5.41 in 2023). Its purchasing power peaked in 1968, at $1.60 ($14.00 in 2023) In 2009, it was increased to $7.25 per hour, and has not been increased since. Employers have to pay workers the highest minimum wage of those prescribed by federal, state, and local laws.
Say Amazon raised the price of a sheet set from $25 to $30. ... where Amazon raises the price of a keyboard from $30 to $40. Perhaps the maker of that keyboard is the only other place that sells ...
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