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What Is the Minimum Wage?

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What is the minimum wage?

Minimum wages, tipped minimums, median wages and pay gaps vary according to the state.

by Anna Helhoski Senior Writer | Consumer finance, economic news, trends, student loan credit Anna Helhoski is a senior writer covering economic news and trends in consumer finance at NerdWallet. Additionally, she is an expert on student loans. Her work was published by NerdWallet at the beginning of 2014. Her work has appeared in The Associated Press, The New York Times, The Washington Post and USA Today. She has previously covered local news from The New York metro area for The Daily Voice, Daily Voice and New York state politics for The Legislative Gazette. She holds a bachelor’s diploma of journalism at Purchase College, State University of New York.

January 23, 2023

Written by Rick VanderKnyff Senior Assigning Editor | Los Angeles Times; University of California, San Diego; Microsoft Rick VanderKnyff leads NerdWallet’s news efforts and manages the team responsible in expanding NerdWallet content to additional topics within personal finance.

Previously, he has worked as a channel manager at MSN.com, as a web manager at University of California San Diego, as well as an editor of copy and staff writer for The Los Angeles Times. He has a Bachelor of Arts in communication and an Master of Arts in anthropology.

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The federal minimum wage of $7.25 per hour hasn’t budged since 2009 despite an increase in the cost of living that has led to a dramatic increase in inflation over the last year.

Thirty-three states and Washington, D.C., have minimum wage levels that are higher than the federal minimum.

Minimum wage over time

The minimum wage has not kept pace with inflation when looking at the nominal wage (not adjusted to inflation) versus their spending power in 2022 numbers (adjusted to account for inflation).

Because the federal minimum wage has not changed in 2009, its true purchasing power has dwindled dramatically. Decreased purchasing power means it’s much more difficult for people to live on a minimum wage.

State minimum wages

The minimum wage varies by state. Five states have no minimum wage laws, but that federal minimum wage is applicable to them. They include Alabama, Louisiana, Mississippi, South Carolina and Tennessee. In certain states there is a minimum wage that is higher, based on whether a particular city or region within the state has the higher minimum.

Is raising the minimum wage going to cause inflation?

No. It is established by the government and is not directly linked to inflation. The current inflationary conditions were not due to this minimum wage. It has not changed since 2009.

Do all workers earn at least an hourly wage?

All workers covered under the Fair Labor Standards Act must be paid at least the federal minimum wage. They can earn higher if the state minimum wage is higher.

According to the Department of Labor, workers not covered by the FLSA who be paid less than minimum wage, include:

Employees of certain amusement parks or leisure establishments.

Newspaper employees of smaller newspapers, or delivery employees.

Seamen who work on foreign vessels, or those engaged in fishing operations.

Certain farmworkers.

Casual babysitters.

Companions to older persons or people with disabilities.

Professional, executive and administrative employees.

Those workers are exempt from overtime pay. (Learn more about who’s — and isn’t for overtime pay on the .)

Does the minimum wage include tips?

The employees who are tipped depend on tips from customers to increase their income. The average tipped employee receives more than $30 in monthly tips, according to the Department of Labor.

Employees who are tippy must earn a minimal wage rate of $2.13 an hour. This is also known as a cash wage. The cash wage is then paired with tips to reach the minimum wage for federal employees of $7.25 for an hour. Those tips are considered a «tip credit» which allows employers to pay their employees less than what is the minimum federal wage.

Employers may give up to $5.12 per hour of tips against a worker’s earnings. If the wage of an employee (at minimum $2.13 an hour) including tips are less than $7.25 per hour, the employer is required to make the difference.

Minimum tipped wages and maximum tip credits vary by city, state, and even by.

Washington, D.C., has the most tipped workers’ minimum wage of all workers in the nation. As of the 2022 election, Washington, D.C. residents were able to vote to incrementally increase the minimum wage for workers who are tipped each year until July 1, 2027. After that the minimum wage for tipped employees will be adjusted to match the same minimum wage as the nontipped minimum wage that year. The current minimum wage is $5.35 per hour for tipped workers , and $16.10 on nontipped staff.

Tipped minimum wages by state

What states are raising minimum wage levels?

Each each year 14 states and Washington, D.C., automatically increase the minimum wage in accordance with the rate of inflation, usually tied with the U.S. Bureau of Labor Statistics’ , or CPI. If the CPI doesn’t change, neither will the wage. Certain states have annual caps on annual inflation increases, like California (3.5 percent), Minnesota (2.5%) and Vermont (5%).

States which bind increases in minimum wage to inflation, adjust their wages as of January. 1, unless otherwise stated, in accordance with the . Those states include:

Alaska.

Arizona.

California.

Colorado.

District of Columbia (adjusts July 1).

Maine.

Minnesota.

Montana.

New Jersey.

New York (adjusts Dec. 31).

Ohio.

Oregon (adjusts one day of the month, July 1,).

South Dakota.

Vermont.

Washington.

Connecticut is scheduled to index wages to inflation beginning January. 1in 2024.

The minimum wage is increased

Is the household’s median income the highest within the U.S.?

A median income for a household for a single individual is $70,784, according to data from the latest U.S. Census Bureau population survey data for 2021.

State median income

>> MORE:

What is the gender pay gap?

Women typically earn less than men. In 2020 women made 83 cents to each dollar earned by men according to Census Bureau. Census Bureau.

Among men and women who were employed full-time, throughout the year in the year 2019 (the most recent information from the Census Bureau’s American Community Survey), the median wage difference was $10,150 and men earned the median of $53,544 while women earning a median wage of $43,394.

The wage gap gets wider as you examine every state. The states with the highest mean wage disparity between women and men include:

Wyoming: $21,676.

Utah: $17,303.

District of Columbia: $16,032.

Louisiana: $14,926.

Washington: $14,609.

The states that have the smallest median wage gaps between males and females are:

Vermont: $4,600.

Nevada: $6,013.

Hawaii: $7,022.

California: $7,162.

Maryland: $7,594.

How big is your gender pay gap in your state?

The gender pay gap exists for women at less education levels. In the case of workers who have less than an associate’s degree the average wage for women was the equivalent of 66 cents for every dollar that men earned, according to the U.S. Government Accountability Office.

Here is the most recent median earnings differences by degree, in accordance with gender and race, compiled through the National Center for Education Statistics.

Gender

Associate degree median earnings

Median earnings of a bachelor’s degree

Median earnings of master’s degrees

Men

$48,390.

$63,950.

$84,010.

Women

$34,780.

$50,000.

$60,930.

Race

Associate degree median earnings

Median earnings for bachelor’s degrees

Median earnings for master’s degrees

Asian

$39,130.

$59,910.

$85,000.

Black

$35,850.

$44,300.

$53,540.

Hispanic

$38,890.

$45,160.

$59,370.

White

$44,500.

$59,600.

$69,560.

What is the racial pay gap?

Wage inequities are stark when they are broken down by the race of the worker, or by ethnicity Department of Labor data illustrates. If you compare every dollar made from white employees:

Latino/Hispanic workers make an average of 73 cents.

Black workers make 76 cents.

Native American Indians earn 77 cents.

Multiracial workers earn 81 cents.

Asian-Pacific Islander workers make $1.12.

What is the gender-based racial wage gap?

This gender wage gap is exacerbated further due to the racial wage disparity according to the data of the Government Accountability Office. When you consider every dollar made by white men:

Women of Hispanic/Latina make 58 cents.

Black women earn an average of 63 cents.

Women who are white make 79 cents.

Asian women earn 97 cents.

What’s the LGBTQ+ gender or gender pay gap?

The gender and gender identity of LGBTQ+ workers also tends to influence income, according to a 2021 analysis of salaries by the Human Rights Campaign. LGBTQ+ workers tend to earn 90 cents per dollar a typical worker (as as full-time public and private sector workers who are not farmers). According to the Human Rights Campaign data, when compared with every dollar that a typical worker earns:

Men in that LGBTQ+ community earn an average of 96 cents.

Women who belong to that LGBTQ+ community earn 87 cents.

Genderfluid, genderqueer, nonbinary and two-spirit workers make 70 cents.

Trans men earn 70 cents.

Trans women make 60 cents.

Author bios: Anna Helhoski is a writer and is NerdWallet’s chief authority on student loans. Her work has appeared in The Associated Press, The New York Times, The Washington Post and USA Today.

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