The Real Minimum Wage : The Indicator from Planet Money Many states and cities have their own minimum wages, which are higher than the federal minimum of $7.25 per hour. One economist calculated a single measure that accounts for all those differences.

The Real Minimum Wage

The Real Minimum Wage

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Did you know there is a federal minimum wage? It's $7.25 per hour (for non-tipped employees), and has been since 2009. But $7.25 today buys less than it did ten years ago. Goods have gotten more expensive, and at the national level, the minimum wage just hasn't kept up.

But a growing number of states and cities are taking matters into their own hands. Some are raising state or city's minimum wage incrementally to match and even exceed inflation.

Today on The Indicator, the U.S. has so many minimum wages. What is the effective minimum wage in the U.S.?

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