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/esa/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)