minimum wage
Other forms: minimum wages
The very lowest salary an employer can legally pay a worker is the minimum wage. Some states have a higher local minimum wage than the one set by the federal government.
The first U.S. minimum wage was established in 1938 by Franklin D. Roosevelt, part of a plan to improve working conditions. It was 25 cents per hour, the equivalent of about $4.60 today. By 1968, the minimum wage had increased to $1.60, approximately $12.00 in 2020 dollars. The federal minimum wage, which is $7.20 in 2021, continues to protect workers, although many advocate for higher minimum wages in line with increased costs of rent, food, education, and other living expenses.
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Vocabulary lists containing minimum wage
If you have an appreciation for finance, budget some time to review this list of terms related to economics. You'll learn all about capitalism, markets, and stocks and bonds. Once you've mastered these words, your vocabulary will be one of your greatest assets.
Stories about the discovery of giant dinosaur bones in Argentina, a chunk of floating ice the size of New York City, and an unlikely partnership between rival pharmaceutical companies all contributed words to this list of vocabulary from the week's news.
