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Not only is the U.S. minimum wage worth less now -- adjusted for inflation -- than it was 44 years ago in 1968, but the median wage actually declined in three calendar years since 2001, the first time since 1967 that has happened.
* Brazilian Minimum Wage (worth of US$200,000).
a Brazilian Minimum Wage (worth of US$200,000).
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The result, in Brazilian Reals (R$), was transformed into minimum wages, worth R$2600 in July 2004 (approximately USD 90).
Today's minimum wage is worth about $240 a month.
In purchasing power, the federal minimum wage is worth $2 less than it was in 1968.
Today, the federal minimum wage is worth about twenty percent less than it was when Ronald Reagan first stood here.
Ask economists about whether raising the minimum wage is worth the potential risks to low-skilled workers, though, and the responses tend to be much more favorable to a minimum-wage increase: Nearly half of the panelists agreed or strongly agreed that the benefits of raising the minimum wage and indexing it to inflation outweighed the costs.
Consider its labor policies, which failed to increase minimum wages for the majority of America: Minimum wage is worth less now -- adjusted for inflation -- than it was in 1968 when the inequality trend started to take off.
The Economic Policy Institute reports that in 2011, "the minimum wage was worth only about 37percentt of what an average worker earned per hour, not far above its lowest point, reached in 2006,in 47 years".
It is a depressing town in many ways, where stable staff on the minimum wage service horses worth hundreds of thousands for men (and I suppose a few women) worth millions, or billions in the case of Sheikh Mohammed, ruler of Dubai.
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