- A new analysis released Monday by the Institute for Policy Studies shows that the current $7.25-an-hour federal minimum wage would be just over $44 an hour if it had increased at the same rate as Wall Street employee bonuses between 1985 and 2020.
- During that 35-year period, the federal wage floor remained largely stagnant while the average Wall Street bonus soared by 1,217%, IPS finds, citing the latest data from the New York State Comptroller.
- Sarah Anderson, director of the Global Economy Project at IPS and the author of the new analysis noted, “Since 1985, the average Wall Street bonus has increased 1,217%, from $13,970 to $184,000 in 2020.”
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Categories: Business, Government, Labor
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