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The federal minimum wage in the United States is a paltry $7.25 and it hasn't gone up since 2009.

"It's not acceptable," Holly Sklar, CEO of the advocacy group Business for a Fair Minimum Wage, told CNBC. "The whole point of the minimum wage is to have it go up regularly. It shouldn't sit still every year when the cost of living is going up. The minimum wage is losing value."

Data shows that in 1968, the federal minimum was equivalent to $10.90 in 2015 dollars, nearly $4 higher than today's rate.

Opponents to an increase in the minimum wage often claim that only teenagers make minimum wage; therefore, there's no need for it to be raised.

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Almost 10 years ago, Stephanie Land and her baby daughter Mia had no choice but to check into a homeless shelter.

Stephanie was fleeing an abusive relationship. She had no family to turn to, and she couldn't afford a place of her own. For the next three months, she and Mia lived in the Port Townsend homeless shelter in Washington.

Stephanie knew she needed help — and that's why one of the places she turned to was the Supplemental Nutrition Assistance Program (SNAP).

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Robert Wood Johnson Foundation

Payday is about to get a bit sweeter for many Target employees.

On Sept. 25, the retail giant announced plans to hike its minimum wage for all workers to $11 an hour beginning next month. The company also promised to increase that figure to $15 an hour by 2020.

"We’re proud to say that our team members are known for going the extra mile," Target explained on its website. "That kind of effort is something to recognize."

Notably, the wage hike beginning in October will also extend to the approximate 100,000 temporary workers the company plans on hiring for the holiday season.



Target's wage hike falls in line with the retailer's bold and decisively more progressive company mission taking shape in recent years.

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In a characteristically Trumpy move, Donald Trump has nominated Andrew Puzder, CEO of fast-food chains Carl's Jr. and Hardee's, to be secretary of labor.

Andrew Puzder! Photo by Drew Angerer/Getty Images.

Of the United States of America, that is.  

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