The federal minimum wage in the U.S. is $7.25 per hour, but most states and cities have set higher minimums, with many increasing rates in 2026, meaning the actual minimum wage varies significantly by location. If an employee is covered by both federal and state law, they must receive the higher wage, and some states like Washington D.C. and Washington have some of the highest rates, while a few states still follow the federal rate.
Eighteen states and Washington, D.C., have minimum wages of $15.00 or more:
State Minimum Wages Summary
Five states have not adopted a state minimum wage: Alabama, Louisiana, Mississippi, South Carolina and Tennessee. Three states, Georgia, Oklahoma and Wyoming, have a minimum wage below $7.25 per hour. In all eight of these states, the federal minimum wage of $7.25 per hour generally applies.
U.S. States with the Highest Minimum Wage
Washington, D.C. leads the nation with $17.95 per hour (effective July 1, 2025). The top 5 other states with the highest minimum wage include: New York: $17.00 (in NYC, Long Island, & Westchester), $16.00 (rest of state) Connecticut: $16.94.
The federal minimum wage for covered nonexempt employees is $7.25 per hour. Many states also have minimum wage laws. In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
If you make $75,000 a year, you're earning more than half of all workers in the U.S. And in fact, many people would probably consider the salary as good pay. After all, a $75,000 salary works out to around $6,250 per month, $1,442.31 per week, or $36.06 an hour.
$25 per hour ($52,000 annually) is considered a decent middle-class wage in most California cities, though it varies significantly by location. This wage is above California's minimum wage ($16-$20/hour depending on city) but below the state's median household income of around $84,000.
The bottom line: For most people, earning $7.25 an hour doesn't cut it as providing a living wage. Even if you live in a state with a higher minimum wage, you may still struggle to maintain a modest standard of living.
Luxembourg. Luxembourg offers the highest minimum wage of any country worldwide at US$3,670 (€3,165) per month for skilled talent over the age of 18. Unskilled talent and talent under the age of 18 receive a lower monthly minimum wage: Unskilled workers 18 years of age and older: US$3,051 (€2,638)
On April 1, 2024, California implemented a $20 hourly wage floor for workers in large chains in fast-food restaurants and snack and non-alcoholic beverage bars. The new standard, which corresponds to 69 percent of the state's median full-time wage, surpasses all prior benchmarks in minimum wage policies and research.
These states have the lowest minimum wage rates in the U.S.:
The states are: Lagos, Rivers, Bayelsa, Niger, Enugu, Akwa Ibom, Abia, Adamawa, Anambra, Jigawa, Gombe, Ogun, Kebbi, Ondo, Kogi among others. On July 29, 2024, President Bola Tinubu signed the N70,000 minimum wage bill into law after months of negotiations with labour unions.
A living wage is simply the minimum hourly amount that a full-time worker must earn to afford basic necessities. In this case, a full-time worker is defined as someone who works at least 2,080 hours a year.
Con: Risking Job Losses, Especially for Small Businesses
The increased labor costs of a higher minimum wage could be substantial. If the minimum wage increased to, say, $15 an hour, businesses would suddenly need to give raises to everyone making less than that.
Minimum Wages in China remained unchanged at 2740 CNY/Month in 2026 from 2740 CNY/Month in 2025. Minimum Wages in China averaged 1952.27 CNY/Month from 2006 until 2026, reaching an all time high of 2740.00 CNY/Month in 2025 and a record low of 690.00 CNY/Month in 2006.
The U.S. federal minimum wage is $7.25 an hour as of 2025.
Switzerland tops the list of countries with the highest monthly salaries in 2025, offering an impressive average of USD 8,247. Luxembourg follows in second place with USD 6,764, driven by its strong financial sector and high standard of living.
Surviving on $1,000 a month requires careful budgeting, prioritizing essential expenses, and finding ways to save money. Cutting down on housing costs by sharing living spaces or finding affordable options is crucial. Utilizing public transportation or opting for a bike can help save on transportation expenses.
With $5,000 per month in retirement, you can afford to live in many locations, coast to coast and beyond. As long as you pay close attention to your savings and stick to a reasonable budget, you can turn that $5,000 monthly retirement budget into a dream lifestyle for your golden years.
While no definitive figure universally defines a good salary, a commonly cited range is between $75,000 and $100,000 annually for individuals.
$70,000 a year is approximately $33.65 per hour, assuming a standard 40-hour workweek and 52 weeks of work per year, calculated by dividing the annual salary by 2,080 working hours ($70,000 / 2,080 = $33.65).
Most Americans Earn Far Less Than $100k
According to last year's YouGov data, only 18% of U.S. adults earn more than $100,000 annually. And the biggest earners are mostly men—25%—and those aged 35 to 44—25%. For comparison, just 12% of women make six figures.