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The federal minimum wage has remained $7.25/hour since 2009, leading to a movement for a $15 minimum wage during the 2010s. [11] Due to high inflation in the early 2020s and stalemate at the federal level, more focus has been placed on increasing state minimum wages.
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.
Now, pointing to the state’s affordability issues, proponents of Proposition 32 would have you believe raising the minimum wage from $16 to $18 per hour offers a solution for entry-level workers ...
An imposition or increase of a minimum wage will generally only affect employment in the low-skill labor market, as the equilibrium wage is already at or below the minimum wage, whereas in higher skill labor markets the equilibrium wage is too high for a change in minimum wage to affect employment.
The minimum wage under federal law is $7.25 an hour, though many states set higher minimums. Four states and several cities have a minimum wage of at least $15.
The federal minimum wage is $7.25 an hour, but many states have raised that floor, including Massachusetts and California. These 5 states will vote on increasing the minimum wage this election ...
The Fair Minimum Wage Act of 2007 [3] is a US Act of Congress that amended the Fair Labor Standards Act of 1938 to gradually raise the federal minimum wage from $5.15 per hour to $7.25 per hour. It was signed into law on May 25, 2007 as part of the U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations ...
Under the proposal, the minimum wage will increase to $8.00 in 2023, $8.75 in 2024, and 9.50 in 2025 until it reaches the $10 threshold. ... “Ending the black market for illegal labor will open ...