State Minimum Wage Rate for Wisconsin
STTMINWGWI • 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 Wisconsin tracks the hourly minimum wage set by the state government. This metric is important for analyzing labor market trends and informing policy decisions.
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 Wisconsin represents the legal hourly minimum wage that employers in the state must pay their workers. This statistic is widely used by economists, policymakers, and businesses to understand labor market dynamics and the impacts of minimum wage changes.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of state labor departments.
Historical Context
Minimum wage levels can influence employment, consumer spending, and business operations, making this trend relevant for economic and policy analysis.
Key Facts
- Wisconsin's current minimum wage is $7.25 per hour.
- The state last increased its minimum wage in 2009.
- Minimum wage is a contentious issue, with debates over its economic impacts.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Wisconsin tracks the legally mandated hourly minimum wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: Minimum wage levels can have significant impacts on employment, consumer spending, and business operations, making this metric important for economic and policy analysis.
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: Policymakers, economists, and businesses use this data to understand labor market dynamics and assess the impacts of minimum wage changes.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Labor Statistics, but there may be lags in reporting changes to state minimum wage laws.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Wisconsin (STTMINWGWI), retrieved from FRED.