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Basic Minimum Rate (per hour) is $7.25 for employers with ten or more full time employees at any one location or employers with annual gross sales over $100,000 irrespective of number of full time employees. All other employers: Basic Minimum Rate (per hour): $2.00. Unless the employers are subject to the Fair Labor Standards Act, in which case ...
Federal laws. The federal minimum wage in the United States has been $7.25 per hour since July 2009, the last time Congress raised it. [ 45] Some types of labor are exempt: Employers may pay tipped labor a minimum of $2.13 per hour, as long as the hour wage plus tip income equals at least the minimum wage.
Workers in Michigan saw a modest minimum-wage increase in 2021, to $10.10 from $9.87. Tipped workers, who make 38% of the regular minimum wage by law, saw their wage rise to $3.84. ... Oregon: $13 ...
Some states, such as Nevada and Oregon, have increases set for July 1. Florida’s minimum will go up on September 30. ... State minimum wage increases in 2024* Alaska: $11.73, up from $10.85 ...
History of the US federal minimum wage. Lower line is nominal dollars. Top line is inflation-adjusted. [1] [2] The Raise the Wage Act is a proposed United States law that would increase the federal minimum wage to US$15. [3] [4] It has been introduced in each United States Congress since 2017.
The new year has ushered in a slew of minimum wage increases across the country. A total of 81 states and cities will be raising their minimum wages in 2022, and 44 cities will be increasing ...
The labour supply curve shows how changes in real wage rates might affect the number of hours worked by employees.. In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real (inflation-corrected) wages increase beyond a certain level, people will substitute time previously devoted for paid work ...
A study by the Congressional Budget Office found that gradually upping the federal minimum wage to $15 by 2025 would increase the wages for 17 million workers, but another 1.3 million workers ...