State Minimum Wage Rate for North Dakota
STTMINWGND • 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 North Dakota measures the minimum hourly wage that employers in North Dakota must pay workers. This metric is important for economists and policymakers to understand trends in labor costs 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 North Dakota represents the legal minimum hourly wage that must be paid to workers in the state. It is a key indicator of labor market conditions and can inform policy decisions around employment, wages, and cost of living.
Methodology
The data is collected by state labor departments and reported to the U.S. Bureau of Labor Statistics.
Historical Context
Minimum wage rates are used by economists, policymakers, and businesses to assess labor market dynamics and the impacts of wage policies.
Key Facts
- North Dakota's minimum wage is currently $7.25 per hour.
- The state minimum wage has remained unchanged since 2009.
- North Dakota is one of 20 states that follow the federal minimum wage of $7.25.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for North Dakota measures the minimum hourly wage that employers in the state must pay workers.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding labor market conditions, income levels, and the impacts of wage policies in North Dakota.
Q: How is this data collected or calculated?
A: The data is collected by the North Dakota labor department and reported to the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Minimum wage rates are used by economists, policymakers, and businesses to assess labor market dynamics and the impacts of wage policies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the state and federal agencies, but there may be lags in reporting the most current information.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for North Dakota (STTMINWGND), retrieved from FRED.