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An increase in the minimum wage is a form of redistribution from higher-income persons (business owners or "capital") to lower income persons (workers or "labor") and therefore should reduce income inequality. The CBO estimated in February 2014 that raising the minimum wage under either scenario described above would improve income inequality.
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
General minimum wage by territory, as of February 2023. This is a list of the official minimum wage rates of the 193 United Nations member states and former members of the United Nations, also including the following territories and states with limited recognition (Northern Cyprus, Kosovo, etc.) and other independent countries.
The minimum wage, unchanged since 2009 ... but most employers are required to pay at least $7.25 under the federal Fair Labor Standards Act. Tipped workers make the federal tipped minimum wage, $2 ...
The beginning of 2024 brought good news to certain minimum wage workers, as 22 states and 38 cities and counties raised their own minimums above the federal minimum. As CBS News reported, the pay...
The true buying power of the minimum wage was now dropping close to what had been in 1938 when it was first established under the Fair Labor Standards Act. ... Minimum wage: $5.15 .
Those aged 20 and over are eligible to receive 100 percent of the minimum wage. Those under the age of 18 are eligible to receive 70 percent of the minimum wage, those aged 18 are eligible to receive 80 percent of the minimum wage and those aged 19 are eligible receive 90 percent of the minimum wage. [194]
Minimum wage increases ranged from $0.22 to $1.50 an hour, adding between $458 and $3,120 to the annual earnings of full-time minimum wage workers.