Is it possible to make ends meet with a minimum wage?
- Idaho’s minimum wage, $7.25, was set in 2009 to match the federal minimum wage.
- Adjusted for inflation, the federal minimum wage peaked in 1968 at $8.54 (in 2014 dollars). Since it was last raised in 2009, the federal minimum has lost about 8.1% of its purchasing power to inflation1.
- In 2014, 12,000 Idaho workers were paid a minimum wage, and 9,000 were paid less2.
- Individuals and families require a lot more than $7.25 to make ends meet. For example, in Ada County, a single parent with two children would need to earn $24.38 per hour – $50,711 per year before taxes – to pay for typical expenses such as food, housing, child care, transportation and medical care.3
- Pew Research Center (2015)
- Bureau of Labor Statistics (2014)
- Massachusetts Institute of Technology (2016)