FYI: Penny for Your Thoughts

With 2020 starting soon, I decided to look at the rate of minimum wage in the U.S. and other countries in the world.  As you can see there is somewhat of a range within the U.S. states.  21 states have the federal wage rate at $7.25 per hour which means you can’t go lower than this amount unless the state wants to get into trouble.   Puerto Rico’s wage is $6.55 per hour.  15 states have a wage $10.00 or higher per hour with the highest being $14.00 in the District of Columbia.  There are 11 countries with a higher minimum wage than the U.S with Luxembourg being on the top with $13.78.  The countries with the lowest minimum wage converted to dollars/cents with the lowest minimum wage at three cents.  It’s not surprising California, Washington, New York, and D.C. are the states with the highest minimum wage for certain cities.  Emeryville, CA is the highest minimum wage with $15.69 per hour.  As you can see, the U.S. has some catch up to do as well as other countries because no matter how you slice it, seven dollars doesn’t get you much today.

countrymincountrylowusminushigh

2019

 

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