Five states have no minimum wage laws, but the federal minimum wage still applies; those include Alabama, Louisiana, Mississippi, South Carolina and Tennessee. In certain states, the minimum wage is more, depending on whether a particular city or region within that state sets a higher minimum. ...
was enacted in the United States in 1938 as part of theFair Labor Standards Act(FLSA). The first minimum wage was 25 cents an hour. The current U.S. minimum wage is $7.25 per hour. However, some states and cities have set minimum wage rates that are higher than the federal minimum....
Some states have a youth minimum that is greater than the federal youth minimum wage. For more information, check out theU.S. Department of Labor’s website. Living wage vs. minimum wage When looking through state and local minimum wage laws, you may see the term “living wage.” So, ...
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. ...
Tipped employees must receive a minimum wage of $2.13 per hour, known as a cash wage. That cash wage is combined with tips to reach the federal minimum wage of $7.25 per hour. (Many states and localities, listed below, have minimum wages set above the federal rate). » MORE: What ...
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...
As of January 1, 2021, minimum wage in Oregon is $12.00. Oregon is one of 45 states that have enacted minimum wage laws. The minimum wage in Oregon is $4.75 greater than the current Federal minimum wage rate of $7.25. Oregon's minimum wage was just $8.95 per hour as recently as 201...
On the other hand, 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 ...
There's also a federal minimum wage at $7.25 an hour.2Employers must pay minimum wage employees whichever rate is higher, so if the federal rate is higher than the state rate, an employee gets the federal minimum wage. The same is true if the state rate is higher.1 ...
A wage-price spiral often pushes inflation to a level that is not ideal. The U.S. Federal Reserve aims to sustain an inflation rate of 2%, which it deems appropriate to maintain maximum employment and price stability.2 Governments tackle an inflationary environment through the actions of acentr...