Poverty, Prosperity, and the Minimum Wage

The US federal hourly minimum wage has been stuck at $7.25 for more than a decade, even though both inflation and productivity have risen steadily. Experts say an hourly wage of $24 is in keeping with inflation, although even a raise to $15 per hour would succeed in lifting nearly one million Americans out of poverty. Some states and cities have done just that, but a gridlocked Congress has prevented it from happening on the federal level. This resource asks the question: In one of the world’s richest countries, why are so many workers unable to cover basic living expenses?