State Minimum Wage Rate for Massachusetts
STTMINWGMA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.00
Year-over-Year Change
87.50%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for Massachusetts tracks the hourly minimum wage set by the state government. This metric is important for evaluating wage trends and labor market conditions.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Minimum Wage Rate for Massachusetts represents the legally mandated minimum hourly pay that employers in the state must provide to their workers. It is a key labor market indicator used by economists and policymakers to analyze employment, income, and cost-of-living dynamics.
Methodology
The data is collected by state labor departments and reported to the U.S. Bureau of Labor Statistics.
Historical Context
The state minimum wage is a policy tool used to address income inequality and ensure a basic standard of living for low-wage workers.
Key Facts
- Massachusetts' minimum wage is currently $15.00 per hour.
- The state minimum wage is adjusted annually based on changes in the consumer price index.
- Minimum wage laws aim to reduce poverty and boost consumer spending.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Massachusetts tracks the legally mandated minimum hourly pay that employers in the state must provide to their workers.
Q: Why is this trend relevant for users or analysts?
A: The state minimum wage is a key labor market indicator used by economists and policymakers to analyze employment, income, and cost-of-living dynamics.
Q: How is this data collected or calculated?
A: The data is collected by state labor departments and reported to the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: The state minimum wage is a policy tool used to address income inequality and ensure a basic standard of living for low-wage workers.
Q: Are there update delays or limitations?
A: The minimum wage is adjusted annually based on changes in the consumer price index, so the data may have a short delay before being published.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Massachusetts (STTMINWGMA), retrieved from FRED.