What was minimum wage in 1988?
$4.25 $3.35
History of California Minimum Wage
| Effective Date | New Minimum Wage | Old Minimum Wage |
|---|---|---|
| July 1, 1988 | $4.25 | $3.35 |
| January 1, 1981 | $3.35 | $3.10 |
| January 1, 1980 | $3.10 | $2.90 |
| January 1, 1979 | $2.90 | $2.65 |
What was the original minimum wage?
25 cents an hour
The 1938 Fair Labor Standards Act (FLSA) established the first federal minimum wage at 25 cents an hour. The law also imposed overtime pay (“time and a half”) after a mandated 40 hour regular workweek.
What was minimum wage in 1985?
1.00
The value of the dollar
| Value of the minimum wage | Value of the minimum wage | |
|---|---|---|
| Year | Current dollars | Year |
| 1955 | $0.75 | 1983 |
| 1956 | 1.00 | 1984 |
| 1957 | 1.00 | 1985 |
How much did a factory worker make in the 1920s?
Archived Content
| Salaries | ||
|---|---|---|
| Salaried employees | ||
| 1917 | 64,9181 | 1,315 |
| 1920 | 78,3311 | 1,811 |
| 1922 | 71,5861 | 1,811 |
How much has the cost of living gone up since 2009?
Value of $1 from 2009 to 2022 The dollar had an average inflation rate of 2.28% per year between 2009 and today, producing a cumulative price increase of 34.01%. This means that today’s prices are 1.34 times higher than average prices since 2009, according to the Bureau of Labor Statistics consumer price index.
How much did a doctor earn in 1980?
As summarized in Table 2, physician net incomes in 1980 ranged from about $63,000 for pediatricians and general practitioners to about $99,000 for surgeons. Overall, average net incomes rose at a compound rate of 6.8 percent between 1970 and 1980.
How much was a dollar worth in 1988?
Why a dollar today is worth only 44% of a dollar in 1988 Updated: June 10, 2021 $100 in 1988 is equivalent in purchasing power to about $227.55 today, an increase of $127.55 over 33 years. The dollar had an average inflation rate of 2.52% per year between 1988 and today, producing a cumulative price increase of 127.55%.
What was the purchasing power of $100 in 1988?
The inflation rate in the United States between 1988 and today has been 125.83%, which translates into a total increase of $125.83. This means that 100 dollars in 1988 are equivalent to 225.83 dollars in 2021. In other words, the purchasing power of $100 in 1988 equals $225.83 today.
What is $100 in 1988 worth today?
$100 in 1988 is equivalent in purchasing power to about $227.55 today, an increase of $127.55 over 33 years. The dollar had an average inflation rate of 2.52% per year between 1988 and today, producing a cumulative price increase of 127.55%.
How much is $100 in 1988 in 2021?
When using the core inflation measurement, $100 in 1988 is equivalent in buying power to $223.67 in 2021, a difference of $123.67. Recall that for All Items, the converted amount is $233.80 with a difference of $133.80. In 1988, core inflation was 4.41%.