On July 24, 2008, the federal minimum wage rises from $5.85 per hour to $6.55 per hour. But most employers won't be directly impacted by the change, according to a recent Compensation.BLR.com poll.
When asked "Will your organization have to pay higher wages as a result of the new federal minimum wage?," just 13 percent responded "Yes" while 87 percent responded "No."
What's the reason? At least in part, it's likely because most states have passed their own minimum wage law, and many of the states have minimum wages that differ from the federal rate. As a result, the increase in the federal minimum wage will generally have no effect on employers in many states because they currently have minimum wages at or above $6.55 per hour.
To find out which states are affected by the federal minimum wage change--and which are not--see our previous coverage of the federal minimum wage increase.
The Compensation.BLR.com poll included 210 respondents.
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