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Why Was the Minimum Wage First Established?
Updated On: Jun 21, 2021
June 21, 2021 | LABOR HISTORY | The minimum wage was conceived as a way to help bolster wageworkers and decrease class stratification. It was first introduced in the United States with the Fair Labor Standards Act of 1938 (FLSA). Passed under President Roosevelt, this act called for the first national minimum wage of 25 cents an hour. This created a floor on wages in the labor market and overall helped to create fairer labor standards throughout the country. The first outcome of increased minimum wages is that the cost of producing goods and services increases, which results in higher prices. These increased prices mean that everyone is paying more for goods, including the middle and upper classes, yet only the lower class is… History News Network
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