State Minimum Wage Rate for Wyoming
STTMINWGWY • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.25
Year-over-Year Change
40.78%
Date Range
1/1/1968 - 1/1/2023
Summary
The State Minimum Wage Rate for Wyoming tracks the minimum hourly wage paid to workers in the state. This metric is a key indicator of labor market conditions and worker protections.
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 Wyoming represents the legal minimum hourly wage that must be paid to employees in the state. This statistic is used by policymakers, economists, and employers to understand wage dynamics and worker welfare.
Methodology
The data is collected by the U.S. Department of Labor from state legislation and regulations.
Historical Context
The state minimum wage is an important policy tool for supporting low-wage workers and managing labor market pressures.
Key Facts
- Wyoming's minimum wage is currently $5.15 per hour.
- The state minimum wage applies to most hourly workers, with some exceptions.
- Wyoming has not increased its minimum wage since 2009.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Wyoming tracks the legally mandated minimum hourly wage paid to workers in the state.
Q: Why is this trend relevant for users or analysts?
A: The state minimum wage is a key indicator of worker protections and labor market conditions, relevant for policymakers, employers, and economists.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor from state legislation and regulations.
Q: How is this trend used in economic policy?
A: The state minimum wage is an important policy tool for supporting low-wage workers and managing labor market pressures.
Q: Are there update delays or limitations?
A: The data is updated periodically to reflect changes in state minimum wage laws.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Wyoming (STTMINWGWY), retrieved from FRED.