Federal, state, and local governments can determine the minimum amount you can pay employees. Learn the answer to what is minimum wage here.
There is no mandate to change the federal minimum wage rate, but members of Congress routinely request consideration for a raise. If an adjustment is approved, it is generally raised in phases over the space of a few years. It has never been raised above the poverty level of a family of...
U.S. small-business owners are divided over President Obama's push to hike the federal minimum wage to $9 an hour from $7.25. Instead of helping struggling workers make ends meet, critics claim it would cause layoffs and stifle growth.Kate Rogers...
minimum wages can affect a company’s profitability if the job performed has less marginal value than the hourly rate paid. In the U.S., National Minimum Wage is called Federal Minimum Wage. This rate is approved by Congress and the current rate is $7.25. This rate is mandatory for any ...
In the People’s Republic of China, the country’s federal law for a minimum wage has recently been elevated to 2100 Renminbi ($302.30 USD); however, it is incumbent upon local governments to rate their own baseline compensation, so long as it conforms with the federal governing principles....
Each state sets its own minimum wage, which may be higher than the federal minimum wage. On Jan. 1, the minimum wage increased in 20 states.
What are the effects of an increase in the minimum wage? Who would be most affected? What would be the impact of raising the federal minimum wage on a firm? What is the effect of limited jobs in the determination of wages? What is the effect of limited jobs on the determination of wag...
The minimum wage is the lowest hourly rate that an employer can pay an employee according to law. Many states haveminimum wagesin place. But the federal minimum wage hasn't increased since 2009, despite many attempts to do so. The discussion around increasing the minimum wage brings both ...
1. Minimum wage The FLSA sets a federal minimum wage, which is the lowest amount you can pay an employee per hour. Currently, the federal minimum wage is $7.25 per hour. Many states and localities also have minimum wage laws. You must pay employees the highest amount between the applicabl...
Amidst all this, there have been numerousprotests and picketsin Chicago and around the country calling for aminimum wage increaseto $15 at every level – including federal. But the federal minimum wage remains $7.25 an hour – as it has been since 2009....