The 1st U.S. minimum wage law was instituted in 1938 as part of the Fair Labor Standards Act. This landmark legislation set a minimum wage of 25 cents per hour, with the goal of ensuring that workers were fairly compensated for their labor. The minimum wage has since been raised numerous times to keep pace with inflation and the rising cost of living. Having a minimum wage in place helps to protect workers from exploitation and ensures that they are able to earn a decent living. It also helps to stimulate the economy by putting more money into the hands of workers, who are likely to spend it on goods and services. This in turn creates demand for products, leading to job creation and economic growth. In recent years, there has been much debate over whether the minimum wage should be raised to a higher level to reflect the increasing cost of living. Advocates argue that a higher minimum wage is necessary to help lift workers out of poverty and reduce income inequality. However, opponents argue that increasing the minimum wage could lead to job losses and hurt small businesses. Despite the ongoing debate, the minimum wage remains an important part of the U.S. labor market. It serves as a basic protection for workers and helps to ensure that they are able to earn a living wage. As the economy continues to evolve, it is likely that the minimum wage will continue to be a topic of discussion and debate. Overall, the institution of the 1st U.S. minimum wage law in 1938 was a significant milestone in the fight for workers' rights. By setting a minimum wage, the government took an important step towards ensuring that workers are fairly compensated for their labor. As the economy continues to change, it is important that the minimum wage is adjusted to reflect the current cost of living and provide workers with a decent standard of living.

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