July Sees a Jump in the Minimum Wage

posted on Jul 29 by Jason in the Legal Compliance, Payroll Taxes category

The Fair Labor Standards Act (FLSA) was amended in 2007 to increase the Federal minimum wage in three steps.  July 24, 2009 marks the last incremental raise in pay. 

The current federal minimum which is $6.55 per hour will change to $7.25 per hour.  Prior to 2007 when the federal minimum wage was increased from $5.15 per hour to $5.85 per hour, it had remained the same for ten years.   Wage and Hour Division, www.dol.gov/esa/whd (July 2009).

Commentary

As this is the last scheduled increase in the minimum wage from the 2007 amendment and with the recent job numbers, it is doubtful employers will see another wage increase anytime soon.

All employers should take note of the increase and adjust their wage schedule accordingly.

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