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.
Most HR professionals don't think that this summer's increase to the federal minimum wage will adversely affect their company or the economy as a whole--but others aren't so sure, according to a recent Compensation.BLR.com poll.
Among the 75.9 million American workers who were paid by the hour last year, 267,000 earned exactly the prevailing federal minimum wage, and nearly 1.5 million earned wages below the minimum, according to a report by the Department of Labor's Bureau of Labor Statistics.
A judge in San Diego has ordered Starbucks to pay $100 million to baristas who shared tips with shift supervisors in California, according to media reports.
Nearly 70 percent of small businesses say that they might have to raise their prices because of costs associated with the new federal minimum wage, according to a survey by the U.S. Chamber of Commerce.
The federal minimum wage rose to $5.85 per hour today, so employers should ensure that they are in compliance and have posted a notice with the new minimum wage.
The federal minimum wage will rise from $5.15 to $5.85 per hour on Tuesday, July 24, 2007, the first of three increases that will take place over the next two years.
