State Minimum Wage Rate for District of Columbia
STTMINWGDC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.50
Year-over-Year Change
112.12%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for the District of Columbia tracks the minimum hourly wage set by the DC government. This indicator is closely monitored by policymakers and economists to assess the effects of minimum wage laws on employment, consumer spending, and economic equity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Minimum Wage Rate for the District of Columbia represents the minimum hourly pay that employers in DC must provide to their workers. This data series is widely used to study the economic and social impacts of changes to the minimum wage over time.
Methodology
The data is collected through official reports from the DC Department of Employment Services.
Historical Context
Minimum wage trends are a key input for economic policy decisions at the local and national level.
Key Facts
- The current minimum wage in DC is $16.10 per hour.
- DC's minimum wage has increased 58% over the past decade.
- Minimum wage adjustments often spark debate on labor market impacts.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for the District of Columbia tracks the hourly minimum wage set by the DC government, which all employers in the district must adhere to.
Q: Why is this trend relevant for users or analysts?
A: Minimum wage data is a key input for analyzing employment, consumer spending, and economic equity, making it highly relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through official reports from the DC Department of Employment Services.
Q: How is this trend used in economic policy?
A: Minimum wage trends are closely monitored by policymakers at the local and national level to inform decisions around labor market regulations and economic development strategies.
Q: Are there update delays or limitations?
A: There may be a short delay between changes to the DC minimum wage and the availability of updated data in this series.
Related Trends
State Minimum Wage Rate for Alaska
STTMINWGAK
Federal Minimum Wage Rate under the Federal Fair Labor Standards Act
STTMINWGFG
State Minimum Wage Rate for Indiana
STTMINWGIN
State Minimum Wage Rate for Illinois
STTMINWGIL
State Minimum Wage Rate for North Dakota
STTMINWGND
State Minimum Wage Rate for Virginia
STTMINWGVA
Citation
U.S. Federal Reserve, State Minimum Wage Rate for District of Columbia (STTMINWGDC), retrieved from FRED.