1,007,000 Americans working full-time earn the federal minimum wage of $7.25 per hour. All of that pay, to all of those people, for all of 2014 adds up to $14 billion dollars. And that is less than half of what employees on Wall Street earned in bonuses alone.
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Source: Institute for Policy Studies.
Lisa Wade, PhD is an Associate Professor at Tulane University. She is the author of American Hookup, a book about college sexual culture; a textbook about gender; and a forthcoming introductory text: Terrible Magnificent Sociology. You can follow her on Twitter and Instagram.
Comments 10
Bill R — April 18, 2015
In a competitive labor force that doesn't seem odd to me. Your Wall Streeters, who represent about a tenth of a percent of the full-time labor force, have total cash compensation of what? Maybe $375,000? Barely in the top 1%...