State Minimum Wage Rate for Nevada
STTMINWGNV • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.00
Year-over-Year Change
45.45%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for Nevada tracks the minimum hourly wage that employers must pay workers in the state. This metric is important for monitoring labor market dynamics and assessing the impacts of minimum wage policies.
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 Nevada represents the legally mandated minimum hourly pay that employers in the state must provide to their workers. This key labor market indicator is used by policymakers, economists, and businesses to understand trends in wage levels and the potential effects of minimum wage changes.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers.
Historical Context
The Nevada minimum wage rate is a critical input for assessing the state's cost of living, consumer purchasing power, and overall economic competitiveness.
Key Facts
- Nevada's minimum wage is currently $10.50 per hour.
- The state's minimum wage has increased by $1.75 over the past 5 years.
- Approximately 4% of Nevada workers earn the minimum wage or less.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Nevada 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 Nevada minimum wage rate is a key indicator for understanding labor market dynamics, cost of living, and the potential economic impacts of minimum wage policies in the state.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of employers in Nevada.
Q: How is this trend used in economic policy?
A: The Nevada minimum wage rate is used by policymakers, economists, and businesses to assess the state's competitiveness and the potential effects of minimum wage changes on the labor market and overall economy.
Q: Are there update delays or limitations?
A: The Nevada minimum wage data is typically updated on an annual basis, with a lag of several months from the end of the reference year.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Nevada (STTMINWGNV), retrieved from FRED.