WKBT
April 17, 2021 11:45 AM
CAROL J. ALEXANDER of NerdWallet
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H. F. Davis/Topical Press Agency/Hulton Archive/Getty Images/TNS
On June 25, 1938, President Franklin D. Roosevelt signed the landmark Fair Labor Standards Act, which established a federal minimum wage of $0.25 an hour. That's the equivalent of $4.63 in 2021 dollars.
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One year after it was established, the federal minimum wage was raised to $0.30 an hour. The value of that amount in 2021 is $5.64.
The federal minimum wage remained $0.30 in 1940, amounting to $5.68 in 2021 dollars.
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In 1941, the value of the $0.30 federal minimum remained consistent. Adjusted for inflation today, it would be worth $5.60 an hour.