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Federal Minimum Wage and Poverty Alleviation
Journal Issue
Volume 31, 2024Abstract
In 2022, 37.9 million people in the United States lived in poverty creating a poverty rate of 11.5 percent (US Census Bureau 2024). There are many efforts across the country to decrease poverty, one of them being increasing the minimum wage to $15 an hour. This paper examines the history of the minimum wage in the United States, its erosion over the years, and its impact on poverty alleviation. Ultimately, increasing the minimum wage to $15 an hour will not decrease poverty in the United States due to average wage rates and insufficient targeting efforts. Reference: US Census Bureau. 2024. “National Poverty in America Awareness Month: January 2024.” Census.gov, January 4, 2024. https://www.census.gov/newsroom/stories/poverty-awareness-month.html.