I got sidetracked here while figuring out what a men's suit priced at $22.50 in 1930 would cost today.
History of Federal Minimum Wage Rates Under the Fair Labor Standards Act, 1938 - 2009
The Fair Labor Standards Act of 1938, As Amended
U.S. Department of Labor. A summary of the Fair Labor Stndards Act of 1938.
The Fair Labor Standards Act (FLSA) prescribes standards for wages and overtime pay, which affect most private and public employment. The act is administered by the Wage and Hour Division. It requires employers to pay covered employees who are not otherwise exempt at least the federal minimum wage and overtime pay of one-and-one-half-times the regular rate of pay.
For nonagricultural operations, it restricts the hours that children under age 16 can work and forbids the employment of children under age 18 in certain jobs deemed too dangerous.
For agricultural operations, it prohibits the employment of children under age 16 during school hours and in certain jobs deemed too dangerous.