CNBC: Adjusted for inflation, the federal minimum wage is worth less than 50 years ago
By Kate Rogers
CNBC, July 21, 2016
Nearly seven years after the federal minimum wage was raised to $7.25 an hour from $6.55, it has remained stagnant despite the increasingly heated debate over better pay and worker protections.
But that hasn't stopped Ken Weinstein from paying his workers more at his two restaurants in Pennsylvania, where the state minimum wage matches the federal floor.
Weinstein owns two Trolley Car Diners in Philadelphia, and decided two years ago to increase the minimum wage for his 75 employees to $8.50.
"It's a competitive thing — you certainly...