State Minimum Wage Rate for North Carolina
This dataset tracks state minimum wage rate for north carolina 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 North Carolina tracks the hourly minimum wage set by the state government. This metric is important for analyzing labor market trends and the impact of minimum wage policies.
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 North Carolina represents the legal minimum hourly pay that employers in the state must provide to their workers. It is a key data point used by economists, policymakers, and businesses to assess the state's labor market conditions and the effects of minimum wage changes.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers and administrative records.
Historical Context
Minimum wage rates influence hiring, wages, and the cost of labor, with implications for the broader economy.
Key Facts
- North Carolina's minimum wage is currently $7.25 per hour.
- The state has not raised its minimum wage since 2009.
- Over 200,000 North Carolina workers earn the minimum wage or less.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for North Carolina tracks the legally mandated hourly minimum pay that employers in the state must provide to their workers.
Q: Why is this trend relevant for users or analysts?
A: The minimum wage rate is a key indicator of labor market conditions and the impact of wage policies, with implications for employment, consumer spending, and the broader economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers and administrative records.
Q: How is this trend used in economic policy?
A: Minimum wage rates influence hiring, wages, and the cost of labor, making this data important for policymakers, businesses, and labor market analysts.
Q: Are there update delays or limitations?
A: The data is published regularly, but changes to the minimum wage may not be immediately reflected due to the time required for data collection and publication.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for North Carolina (STTMINWGNC), retrieved from FRED.