State Minimum Wage Rate for Kentucky
This dataset tracks state minimum wage rate for kentucky over time.
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 Kentucky tracks the minimum hourly wage requirement set by the state government, which is an important labor market indicator.
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 Kentucky measures the legal minimum hourly wage that employers in Kentucky must pay their workers. This metric is used by economists and policymakers to analyze labor market conditions and the potential impacts of minimum wage policies.
Methodology
The data is collected and reported by the U.S. Department of Labor.
Historical Context
Changes in the state minimum wage rate can affect employment, consumer spending, and the broader economy.
Key Facts
- Kentucky's current minimum wage is $7.25 per hour.
- The state minimum wage has remained unchanged since 2009.
- Over 100,000 Kentucky workers are paid at or below the minimum wage.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Kentucky measures the legally required minimum hourly wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: The state minimum wage rate is a key indicator of labor market conditions and can impact employment, consumer spending, and broader economic trends.
Q: How is this data collected or calculated?
A: The data is collected and reported by the U.S. Department of Labor.
Q: How is this trend used in economic policy?
A: Policymakers and economists use the state minimum wage rate to analyze the potential impacts of minimum wage policies on the labor market and broader economy.
Q: Are there update delays or limitations?
A: The data is updated periodically as state minimum wage laws change, but there may be lags in reporting.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for Kentucky (STTMINWGKY), retrieved from FRED.