Minimum Wage Increase: Round 2
Let’s get real.
The minimum wage of $1.60 an hour in 1968 would be $10.90 today when adjusted for inflation [see the Bureau of Labor Statistics’ Consumer Price Index inflation calculator.]
Except you were talking about Los Angeles, which has a much higher cost of living than the national average.
In California, cost of living is fairly high for most areas, and Los Angeles is no exception. Overall, the Cost of Living in Los Angeles is 50 percent above the national average. The cost of housing has the greatest impact on the overall cost of living. Housing in Los Angeles is 157 percent higher than the national average, a significant difference compared to most other United States cities.
So if you do the math it becomes obvious that a $15.37 minimum wage is still below the level that would bring the minimum wage up to parity with 1968 national standards ($10.90 X 1.5 for the +50% modifier = $16.35/hr)
Which is funny, because you chastised Skip Intro for the very mistake you then proceeded to flagrantly commit yourself, conflating the national wage with local conditions.
Dude this is an article and Page about Los Angeles and within it’s city council. Not the whole country! That’s a big misread.
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