Minimum Wage and What It Buys You: 1950s to Now

Minimum Wage and What It Buys You: 1950s to Now

2000

By the time George W. Bush got to office, things were no better―though arguably, no worse. With a minimum wage of only $5.15 (it hadn’t raised since 1995, and wouldn’t again until eight years later in 2008) workers still had to work nearly 120 hours to afford median rent and more than an hour for a trip to the cinema.

Minimum wage: $5.15/hour
Gas: $1.49 or 17m
Movie ticket: $5. 39 or 1hr, 3m
Rent: $602 or 117hrs

REUTERS