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63 comments on A quick review of some current numbers on domestic crude oil stocks and the like
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I grew up and graduated in the same time period, Roger, and I am going to have to question your anecdotal numbers. The US minimum wage in 1974 was $2.00. In 1976 it advanced to $2.10. In 1977 it advanced to $2.30 and in 1978 it advanced to $2.65. If you worked for $1 per hour you should have been getting tips. If you did not get tips, then that was your personal choice to work under those conditions. I graduated in 1976, Roger, and never, ever, even in the midst of the rust belt as steel plants and coal mines closed around me, did I find myself unable to locate minimum wage work.
Grey Zone
Graduated H.S. in 74, worked my first job as a sophomore at $1.20/hr. flipping burgers in 72. Dishwasher for a time in 73 at $1.45/hr.. Worked at an amusement park as a ride operator in 75 making $1.65/hr. In between some better higher paying factory jobs. Point is Minimum Wage laws were governed by intra and interstate regulations. If your employer did not operate in more than one state then the minimum wage laws in the state were in force not the Feds. Lots of loopholes for underage workers and in general state mins. well below the Feds.