The current federal minimum wage of $7.25 per hour is far too low. A full-time worker earning the minimum wage makes just $15,080 per year, below the poverty line for a family of three. From 1968 to 2010, incomes for the top 1 percent of earners increased by 110 percent, but the inflation-adjusted value of the minimum wage has fallen by 31 percent. If the federal minimum wage had kept pace with the rising cost of living over the past 40 years, it would be $10.52 per hour today.
Women are disproportionately harmed by a low minimum wage because women–and especially women of color–are much more likely hold low-wage jobs than men. The typical woman earns 77 cents for every dollar the typical man does, and the fact that women are more likely to be minimum-wage earners than men contributes to that disparity. This gap is especially distressing now that two-thirds of mothers are either the breadwinners or co-breadwinners for their families.