Chart of the Day – The National Average Minimum Wage

From Finance

March 28, 2013

TownHall calculated the percentage share of each state’s population with respect to the combined population of all 50 states and the District of Columbia, and multiplied each state’s share of the U.S. population by the greater of either the federal minimum wage or the state’s minimum wage. Then they summed up the results for each year from 1994 through 2012 to find the population-weighted national average minimum wage for the United States.

The chart below adjusts the average minimum wage to 2012 dollars to provide a comparison of the real average minimum wage.