For covered nonexempt employees, the federal minimum wage is $7.25 per hour in 2019 and remained the same in 2022.
Wealth of Elon Musk:
2013: $2,700,000,000
2022: $266,100,000,000Wealth of Jeff Bezos:
2009: $6,800,000,000
2022: $177,600,000,000Wealth of Bill Gates:
2009: $40,000,000,000
2022: $132,500,000,000Minimum wage:
2009: $7.25
2022: $7.25Anyone else see the problem here?
— Public Citizen (@Public_Citizen) April 16, 2022
But the net wealth of some famous influential people increased over the years.
Although the minimum wage is no longer as low as it once was, America still has a long way to go when it comes to adequately compensating its workers. The federal minimum wage is currently $7.25, a figure that has remained constant since 2009.
Despite the fact that there have been no recent changes from the federal government, things appear to be moving in the right direction. According to Bloomberg, the U.S. House passed a bill in July 2019 that would raise the minimum wage to $15 per hour by 2025, potentially increasing the incomes of 17 million to 27 million minimum wage workers.
Many states have minimum wage laws as well.
When an employee is covered by both state and federal minimum wage laws, the employee is entitled to the higher of the two.
