1914 – The Ford Motor Company announces an eight-hour workday and a minimum wage of $5 for a day's labor.
Federal Minimum Wage Through History
Let’s remind ourselves of what the federal minimum wage numbers have been throughout history. Here’s a table showing the actual minimum wage between 1939 and 2009 (source: Wikipedia):
| Year | Wage | Year | Wage | |
|---|---|---|---|---|
| 1939 | 30 cents | 1976 | $2.20 | |
| 1945 | 40 cents | 1977 | $2.30 | |
| 1950 | 75 cents | 1978 | $2.65 | |
| 1956 | $1.00 | 1979 | $2.90 | |
| 1965 | $1.25 | 1980 | $3.10 | |
| 1967 | $1.00 | 1981 | $3.35 | |
| 1968 | $1.15 | 1990 | $3.80 | |
| 1969 | $1.30 | 1991 | $4.25 | |
| 1970 | $1.45 | 1996 | $4.75 | |
| 1971 | $1.60 | 1997 | $5.15 | |
| 1974 | $1.90 | 2007 | $5.85 | |
| 1975 | $2.00 | 2008 | $6.55 | |
| 2009 | $7.25 |
And here’s a chart showing the real value of the minimum wage (inflation adjusted) from 1938 and 2009 (source: Economic Policy Institute)
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A Timeline of Ford Motor Company
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