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The treasury offered five options for calculating that rate, with its intended method setting the new wage at $12.48 in 2025. That figure was determined by using inflation data and the initial ...
Don Grimes, an economist at the University of Michigan, said minimum wage could be about $12.58 an hour next year, accounting for 25.8% inflation from CPI data from June 2018 to June 2024. What do ...
Starting Jan. 1, 2024, minimum wage for adults in Michigan will increase from $10.10 per hour to $10.33 per hour. The minimum wage for workers 16 and 17 years old will be $8.78 an hour, 85% of the ...
Tipped workers must earn at least the standard Michigan minimum wage once tips are included in their wages. [253] [254] The tipped minimum wage is set at 38% of the state minimum, and the youth rate is set at 85% of the state minimum. Jan. 1, 2024: $10.33 regular, $8.78 youth, $3.93 tipped; Jan. 1, 2025: $10.56 regular, $8.98 youth, $4.01 tipped
In 1938 the Fair Labor Standards Act established it at $0.25 an hour ($5.19 in 2022 dollars). Its purchasing power peaked in 1968 at $1.60 ($13.46 in 2022 dollars). [1] The Fair Minimum Wage Act of 2007 has set the minimum wage at $7.25 per hour since 2009. The real value of the federal minimum wage in 2022 dollars has decreased by 46% since ...
Basic Minimum Rate (per hour) is $7.25 for employers with ten or more full time employees at any one location or employers with annual gross sales over $100,000 irrespective of number of full time employees. All other employers: Basic Minimum Rate (per hour): $2.00. Unless the employers are subject to the Fair Labor Standards Act, in which case ...
August 6, 2024 at 6:03 AM. In 2018, two citizen referendums aimed to improve conditions for low-wage workers by asking Michigan voters to raise the minimum wage, the tipped minimum wage and to ...
Michigan’s minimum wage workers are celebrating, with their wages set to increase to around $12.50 an hour next year — and hit $15 by 2028 — thanks to a recent state Supreme Court ruling.
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