State Minimum Wage Rate for Utah
STTMINWGUT • 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 Utah tracks the minimum hourly wage employers must pay workers in the state. This metric is closely watched by economists and policymakers as an indicator of labor market conditions and cost of living.
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 Utah represents the lowest legal hourly pay that can be offered to employees in the state. This data series is widely used to analyze trends in worker compensation, assess the impacts of minimum wage changes, and understand regional economic pressures.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of state labor departments.
Historical Context
Changes in the Utah minimum wage are closely followed by businesses, workers, and policymakers to gauge the state's economic environment.
Key Facts
- Utah's current minimum wage is $7.25 per hour.
- The state minimum wage has remained at $7.25 since 2009.
- Utah 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 Utah tracks the legally mandated minimum hourly pay that employers in the state must provide to workers.
Q: Why is this trend relevant for users or analysts?
A: The Utah minimum wage is a key indicator of labor market conditions, worker compensation, and cost of living in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of state labor departments.
Q: How is this trend used in economic policy?
A: Changes in the Utah minimum wage are closely monitored by businesses, workers, and policymakers to gauge the state's economic environment.
Q: Are there update delays or limitations?
A: The Utah minimum wage data is published regularly with minimal delays, reflecting the current legal requirements in the state.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Utah (STTMINWGUT), retrieved from FRED.