State Minimum Wage Rate for Idaho
STTMINWGID • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.25
Year-over-Year Change
0.00%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for Idaho tracks the legally mandated minimum hourly wage for workers in the state of Idaho. This metric is important for economists and policymakers to understand labor market conditions and the potential impacts on employment and income.
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 Idaho represents the lowest permissible hourly wage that employers in Idaho must pay their workers. This data series is used to assess the state's labor market trends and the effects of minimum wage policies on employment, earnings, and the cost of living.
Methodology
The data is collected and published by the U.S. Department of Labor.
Historical Context
Policymakers use this metric to evaluate the socioeconomic impacts of minimum wage changes in Idaho.
Key Facts
- Idaho's current minimum wage is $7.25 per hour.
- The state minimum wage has remained unchanged since 2009.
- Idaho is one of 20 states that uses the federal minimum wage of $7.25.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Idaho tracks the legally mandated minimum hourly wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market conditions and the potential impacts of minimum wage policies on employment, earnings, and the cost of living in Idaho.
Q: How is this data collected or calculated?
A: The data is collected and published by the U.S. Department of Labor.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to evaluate the socioeconomic impacts of minimum wage changes in Idaho.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Department of Labor, but there may be lags in reporting.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Idaho (STTMINWGID), retrieved from FRED.