1988 United States Minimum Wage in Today's Dollars

Amount
$
From
To
$7.56
Adjusted for inflation, $3.35 in 1988 is equal to $7.56 in 2021.
Annual inflation over this period was 2.50%.

In the year 1988, the United States minimum wage was $3.35.

This is equivalent to $7.56 in 2021 dollars.

Note: We determine the value of a dollar using the Consumer Price Index from December of the previous year.

More Inflation Items

Has minimum wage kept up with increases in the cost of living?

Here's how much the 1988 minimum wage of $3.35 would be worth over time, compared to the actual minimum wage from that year.

Year Inflation-adjusted Actual
2021 $7.56 $7.25
2020 $7.46 $7.25
2019 $7.29 $7.25
2018 $7.16 $7.25
2017 $7.01 $7.25
2016 $6.87 $7.25
2015 $6.82 $7.25
2014 $6.77 $7.25
2013 $6.67 $7.25
2012 $6.55 $7.25
2011 $6.36 $7.25
2010 $6.27 $7.25
2009 $6.10 $7.25
2008 $6.10 $6.55
2007 $5.86 $5.85
2006 $5.71 $5.15
2005 $5.52 $5.15
2004 $5.35 $5.15
2003 $5.25 $5.15
2002 $5.13 $5.15
2001 $5.05 $5.15
2000 $4.89 $5.15
1999 $4.76 $5.15
1998 $4.68 $5.15
1997 $4.60 $5.15
1996 $4.46 $4.75
1995 $4.35 $4.25
1994 $4.23 $4.25
1993 $4.12 $4.25
1992 $4.00 $4.25
1991 $3.88 $4.25
1990 $3.66 $3.80
1989 $3.50 $3.35
1988 $3.35 $3.35