Minimum Wage to Increase in July
The first increase in the federal minimum wage in 10 years will
take effect on July 24. The current minimum wage of $5.15 per hour
will increase to $5.85 per hour. The Fair Minimum Wage Act of 2007
includes incremental wage increases that begin this summer and continue
over the next two years. In 2008, the wage will jump to $6.55 per
hour, with a final increase to $7.25 per hour in 2009.
Nearly 30 states have minimum wage rates higher than the current
federal standard. In states where an employee is subject to both
state and federal minimum wage laws, the employee is entitled to
the higher of the two rates.