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The 1971 federal minimum wage was $1.60 per hour.

The Claim

An annual income of $381,000 in 2026 is required to have the same purchasing power as a U.S. minimum-wage worker in 1971.

Verified by Lenz ·

The Short Version

Authoritative records show the 1971 federal minimum wage was $1.60 per hour, about $3,328 annually for 2,080 hours. Reaching $381,000 would require an unsupported 114-fold adjustment, far beyond standard consumer-price inflation. A gold-price comparison involving a different wage and year does not establish equivalent general purchasing power.

Caveats

  • The $3,328 annual figure assumes 2,080 paid hours per year; actual annual earnings varied with hours worked.
  • Gold-price appreciation is not a standard measure of general purchasing power across goods and services.
  • A final full-year 2026 CPI value is not yet available, but no plausible standard inflation adjustment approaches $381,000.

The Receipts

  1. Table Data - Federal Minimum Wage Rate under the Federal Fair Labor Standards Act | FRED | St. Louis Fed

    fred.stlouisfed.org

  2. SSA - POMS: RS 01404.305 - History of Federal Minimum Wage Rates Under the Fair Labor Standards Act 1938-1996 - 11/10/2009

    secure.ssa.gov

  3. History of Federal Minimum Wage Rates Under the Fair Labor ...

    dol.gov

  4. History of Changes to the Minimum Wage Law | U.S. Department of Labor

    dol.gov

  5. FEDERAL MINIMUM WAGE RATES UNDER THE FAIR LABOR STANDARDS ACT

    dol.gov

  6. 29 CFR § 779.2 - Previous and new coverage. | Electronic Code of Federal Regulations (e-CFR) | US Law | LII / Legal Information Institute

    law.cornell.edu

  7. Consumer Price Index, 1913- | Federal Reserve Bank of Minneapolis

    minneapolisfed.org

  8. Hourly Wage Inflation Calculator Calculation Explained | SoFi

    sofi.com

Filed Under

1971United StatesUnited States federal minimum wage

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