Use the information in the following table to determine the

Last updated: 8/19/2023

Use the information in the following table to determine the percentage changes in the U S and French real minimum wages between 1957 and 2020 Year 1957 2020 United States Minimum wage dollars per hour 1 00 7 25 CPI 27 259 France Minimum wage euros per hour 0 19 euros 10 15 euros CPI 8 105 Sources For 1957 John M Abowd Francis Kramarz Thomas Lemieux and David N Margolis Minimum Wages and Youth Employment in France and the United States D Blanchflower and R Freeman eds Youth Employment and Joblessness in Advanced Countries Chicago University of Chicago Press 1999 pp 427 472 the value for the minimum wage is given in francs it was converted to euros at a conversion rate of 1 euro 6 55957 francs For 2020 INSEE online data bank www insee fr U S Departm of Labor and U S Bureau of Labor Statistics Calculate the percentage change in U S real minimum wages between 1957 and 2020 96 Enter your response as a percentage rounded to two decimal places