State Minimum Wage Rate for Iowa
STTMINWGIA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.25
Year-over-Year Change
0.00%
Date Range
1/1/1991 - 1/1/2025
Summary
The State Minimum Wage Rate for Iowa measures the minimum hourly wage required for most employees in the state. This data point is important for economists and policymakers in understanding labor market dynamics and cost-of-living trends.
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 Iowa represents the legislated minimum hourly pay that employers in the state must provide to their workers. This metric is closely monitored by labor market analysts to assess the impact of wage floors on employment, consumer spending, and business costs.
Methodology
The data is collected by the U.S. Department of Labor through surveys of state employment laws and regulations.
Historical Context
Policymakers use the Iowa minimum wage rate to inform decisions around livable wages, income inequality, and economic competitiveness.
Key Facts
- Iowa's current minimum wage is $7.25 per hour.
- The state minimum wage has remained unchanged since 2008.
- Federal minimum wage also stands at $7.25 per hour.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Iowa measures the legislated minimum hourly pay that employers in the state must provide to their workers.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely monitored by labor market analysts to assess the impact of wage floors on employment, consumer spending, and business costs.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor through surveys of state employment laws and regulations.
Q: How is this trend used in economic policy?
A: Policymakers use the Iowa minimum wage rate to inform decisions around livable wages, income inequality, and economic competitiveness.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Department of Labor, though there may be lags in reflecting changes to state minimum wage laws.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Iowa (STTMINWGIA), retrieved from FRED.