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The minimum wage in the United States is no longer a living wage. At $7.25, the federal minimum hasnât kept up with the cost of living since the late 60s, and thereâs a growing movement among workers, policy analysts, state and city governments â and even some employers â to raise it.
Real Minimum Wages. Once you factor in buying power and cost of living, Australia's $16 minimum wage -- the highest in the world -- isn't actually as good as it sounds. Here's a comparison of the hourly minimum wage in 26 countries, adjusted for purchasing power parity:$7.59 Canada Actual min. wage $9.75. $7.25 United States.$0.80 Mexico min.eal Minimum Wages. Once you factor in buying power and cost of living, Australia's $16 minimum wage -- the highest in the world -- isn't actually as good as it sounds. Here's a comparison of the hourly minimum wage in 26 countries, adjusted for purchasing power parity: