In the year 2016, the United States minimum wage was $7.25.
This is equivalent to $9.10 in 2023 dollars.
Note: We determine the value of a dollar using the Consumer Price Index from December of the previous year.
Has minimum wage kept up with increases in the cost of living?
Here's how much the 2016 minimum wage of $7.25 would be worth over time, compared to the actual minimum wage from that year.
| Year | Inflation-adjusted | Actual |
|---|---|---|
| 2022 | $8.55 | $7.25 |
| 2021 | $7.98 | $7.25 |
| 2020 | $7.88 | $7.25 |
| 2019 | $7.70 | $7.25 |
| 2018 | $7.56 | $7.25 |
| 2017 | $7.40 | $7.25 |
| 2016 | $7.25 | $7.25 |