The federal minimum wage will increase from $6.55 to $7.25 an hour on July 24. This is the third and final increase in the last two years. In 2007, Congress passed a bill to raise the wage in three 70-cent increments, from $5.15 to $5.85, and then to $6.55.
A number of states and several local jurisdictions have minimum wage rates that are higher than the federal standard. The current wage in California, for example, is $8 an hour. The Department of Labor tracks state wages at www.dol.gov/esa/minwage/america.htm.
For further information, contact Stuart Gosswein.