In 1996, the United States set its minimum hourly wage at $5.15, a figure that had a significant impact on the country's labor market and the lives of millions of workers. The minimum wage is the lowest legal wage that employers can pay their employees and is intended to provide a basic standard of living and protect workers from exploitation.

The decision to set the minimum hourly wage at $5.15 in 1996 was a result of various factors, including economic conditions, political discussions, and social concerns. At the time, the U.S. economy was experiencing steady growth, with low levels of unemployment and inflation. The minimum wage increase was seen as a way to ensure that workers' wages kept pace with the overall economic growth.

The $5.15 minimum hourly wage had a direct impact on millions of workers, particularly those in low-wage industries such as retail, food service, and hospitality. For many workers, the increase in the minimum wage meant a higher income and improved financial stability. It provided a vital safety net for those struggling to make ends meet and helped lift some workers out of poverty.

The minimum wage increase also had broader implications for the labor market. Critics argued that a higher minimum wage could lead to job losses and reduced employment opportunities, particularly for low-skilled workers. However, proponents of the increase contended that the benefits of a higher wage floor, such as increased consumer spending and reduced income inequality, outweighed any potential negative impacts.

The $5.15 minimum hourly wage also sparked ongoing debates about the adequacy of the minimum wage and the need for regular increases to keep up with the rising cost of living. Advocates for workers' rights and labor unions argued that a higher minimum wage was necessary to ensure fair compensation and address income inequality. They called for regular adjustments to the minimum wage to reflect changes in the economy and the cost of living.

In response to these concerns, subsequent years saw efforts to further increase the minimum wage. In 2007, the U.S. Congress passed legislation to gradually raise the federal minimum wage to $7.25 by 2009. This increase aimed to provide workers with a more reasonable wage floor and help alleviate the financial burdens faced by low-wage workers.

The $5.15 minimum hourly wage in 1996 represented a significant step towards ensuring fair compensation for workers in the United States. While it was not without controversy, the increase in the minimum wage had positive effects on workers' income and economic stability. However, ongoing discussions about the adequacy of the minimum wage persist, as the cost of living continues to rise, and income inequality remains a pressing issue.