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FLSA: The Minimum Wage

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in Compensation and Benefits,Human Resources

Passage of the Fair Minimum Wage Act of 2007 marked the first boost to the federal minimum wage since 1997. In July 2007, the federal minimum wage increased from $5.15 to $5.85 per hour. Additional raises took effect over the next two years: to $6.55 on July 24, 2008, and to $7.25 on July 24, 2009.

Many states have passed minimum wage laws of their own. As of this writing, 18 states and the District of Columbia have a higher minimum wage than the federal. Where the state wage is higher, you must pay the state minimum rate. (You can access all the state minimum wage rates at www.dol.gov/whd/minwage/america.htm.)

In addition, some cities and municipalities have raised their minimum wages through so-called “living wage” laws, which establish higher minimum pay rates for businesses that receive contracts or subsidies from local governments. More than 140 communities have enacted living-wage laws since 1994, raising local wages...(register to read more)

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