The Minimum Wage The Federal Minimum Wage rates are set under the Fair Labor Standards Act (FLSA). The first minimum wage was set in 1938 at 25 cents per hour. The standards have been changed and the rate has been raised over the years, with the last increase being in 1997 setting the minimum wage at $5.15 an hour. After adjusting for inflation, the value of the minimum wage is at its lowest level since 1955. Multiple attempts have been made in Congress to increase the minimum wage but to date all attempts have failed.
