Increase in real value of the minimum wage since 1990: 21%
Increase in cost of living since 1990:67%
One year's earnings at the minimum wage: $15,080
Income required for a single worker to have real economic security: $30,000
Summary. You all got a lot poorer and it's getting worse.
Essentially this means that the Federal minimum wage needs to be doubled and that Hilary Clinton's shameful climb down to $12 will still leave many Americans in poverty. In a country as rich as the USA nobody who works hard should have to struggle financially.
According to the Economic Policy Institute’s
State of Working America, a stunning
35 million Americans – 26 percent of the USA workforce – earn less than $10.55 an hour.
Of that number according to the
Bureau of Labor Statistics, last year 1.532 million hourly workers earned the federal minimum of $7.25 an hour; nearly 1.8 million more earned less than that because they fell under one of several exemptions (tipped employees, full-time students, certain disabled workers and others), for a total of 3.3 million hourly workers at or below the federal minimum.
Bear in mind that the 3.3 million figure doesn’t include salaried workers, although BLS says relatively few salaried workers are paid at what would translate into below-minimum hourly rates, though many of them fall under Bernie Sander's proposed $15 an hour.
So in terms of the number of people actually on the minimum wage, not really that many; it's the rate between 7.25 and $10.55 that is important since both areas leave you in poverty. But that's not the end of the story either, because, as we saw, you need to work
two full time minimum wage jobs to have economic security. Earning $10.75 an hour is better than $7.25, but not by all that much.
How many earn under the $15 that Bernie Sanders has pledged?
Turns out it’s 42% of all U.S. workers.