The federal minimum wage hasn’t been raised in over 10 years, the longest period without an increase since the program was implemented in 1938. Wage stagnation at the bottom of the labor market is a key contributor to why, estimates the Institute for Policy Studies, 140 million people in the U.S. are poor.
Inflation has outpaced the growth of the federal minimum wage, leading it to be worth less than it was in the 1960s. Josh Hoxie joined the Real News Network to discuss the impact an increased federal minimum wage would have on Americans, who such an increase would affect, and the battle between labor unions and corporations.