State Minimum Wage Rate for Texas
This dataset tracks state minimum wage rate for texas over time.
Latest Value
7.25
Year-over-Year Change
0.00%
Date Range
1/1/1972 - 1/1/2025
Summary
The State Minimum Wage Rate for Texas tracks the legally mandated minimum hourly wage in the state. This metric is vital for analyzing labor market conditions and ensuring compliance with wage laws.
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 Texas represents the lowest legal hourly pay that employers must provide workers within the state. It is an important economic indicator used to assess affordability of living standards and monitor adherence to labor regulations.
Methodology
The data is collected by the U.S. Department of Labor through surveys and reviews of state legislation.
Historical Context
Policymakers, economists, and businesses closely monitor the Texas minimum wage to inform employment, tax, and social policies.
Key Facts
- Texas has not raised its minimum wage above the federal level of $7.25 since 2009.
- Minimum wage accounts for over 3% of the Texas workforce.
- Texas is one of only a few states with a minimum wage matching the federal standard.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Texas tracks the legally mandated minimum hourly wage that employers in the state must pay workers.
Q: Why is this trend relevant for users or analysts?
A: The Texas minimum wage is a key metric for assessing labor market conditions, compliance with wage laws, and the affordability of living standards in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor through surveys and reviews of state legislation.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses closely monitor the Texas minimum wage to inform employment, tax, and social policies.
Q: Are there update delays or limitations?
A: The Texas minimum wage data is published regularly with minimal delays, providing timely information for analysis.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for Texas (STTMINWGTX), retrieved from FRED.