Mininum Wage Increase Goes into Effect
Thursday, July 24th, 2008The national minimum wage increased to $6.55 per hour today. The increase came about as part of the Fair Mininum Wage Increase Act of 2007.
Previously, minimum wage was $5.85 an hour. Prior to the 2007 legislation, the rate was $5.15, a figure which had been in place since 1997.
An additional minimum wage increase is scheduled to take place on June 24, 2009. At that time, a rate of $7.25 per hour will become effective.
Source: http://money.cnn.com/2008/07/24/news/economy/minimum_wage/?postversion=2008072407
