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The Fair Minimum Wage Act of 2007 [3] is a US Act of Congress that amended the Fair Labor Standards Act of 1938 to gradually raise the federal minimum wage from $5.15 per hour to $7.25 per hour. It was signed into law on May 25, 2007 as part of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations ...
The federal minimum wage was introduced in 1938 at the rate of 25¢ per hour (equivalent to $5.19 in 2022). [76] [5] By 1950 the minimum wage had risen to 75¢ per hour. [81] [5] The purchasing power of the federal minimum wage has fluctuated; it was highest in February 1968, when it was $1.60 per hour.
However, employers subject to the “Fair Labor Standard Act” must pay the current federal minimum wage of $7.25 per hour. Alaska Basic Minimum Rate per hour: $10.85
Furthermore, a Harvard Business Review study found that, after an increase of $1 to the state minimum wage in California, employees saw “net losses of at least $1,590 per year per employee ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
In 2016, California became the first state to pass a $15 hourly minimum wage under a law signed by then-Gov. Jerry Brown, also a Democrat. About 40 cities and counties already have minimum wages ...
On May 25, 2007, President Bush signed into law a supplemental appropriation bill (H.R. 2206), which contains the Fair Minimum Wage Act of 2007. [67] This provision amended the FLSA to provide for the increase of the federal minimum wage by an incremental plan, culminating in a minimum wage of $7.25 per hour by July 24, 2009.
The federal minimum wage is currently at $7.25 — money that has stayed the same since 2009. Read More: The Salary Needed To Afford America’s 50 Biggest Cities Check Out: 9 Things You Must Do ...