According to a poll by economist Greg Mankiw, 79% of economists agree that a minimum wage increases youth and unskilled unemployment.  * The UC Berkeley Labor Center maintains a detailed national list of local minimum wage regulations. The Department of Industrial Relations does not monitor or review this list, but includes it here as a reference for the public: UC Berkeley Labor Center Inventory of U.S. City and County Minimum Wage Ordinances The CBO estimated the theoretical impact of a federal minimum wage increase in three scenarios in 2019: increases per hour to 10, $12 and $15 by 2025. Under the $15 scenario, up to 27 million workers could increase their average weekly earnings in 2025, while 3.7 million workers could lose their jobs. The latter statistic would increase over time in any wage increase scenario, according to CBO, as capital allocation replaces some workers. Wage increases would be heavily skewed (40%) in favour of those who already earn above the minimum wage, with more than 80% of benefits going to the most educated workers living above the poverty line (Table 5). The number of people living in poverty would be reduced by 1.3 million (provided that income increases do not have a fiscal impact). The CBO notes that it does not take into account the inflationary impact of these policies when estimating changes in poverty levels, as these estimates, while increasing inflation, are uncertain.
In addition, the CBO assumed that the burden of benefits would go to people living below the poverty line, based on historical wage increases. They found that minimum wage data tended to assume the opposite (that benefits accrue to people above the poverty line), but that these data were not sufficiently definitive to allow an estimate of their work. Some aspects of the CBO study are summarized in the table below.  The state adopts the federal minimum wage rate by reference if the federal rate is higher than the state rate. An increase in the minimum wage is a form of redistribution from people with higher incomes (entrepreneurs or “capital”) to people with lower incomes (workers or “work”) and should therefore reduce income inequality. The CBO estimated in February 2014 that raising the minimum wage would reduce income inequality in one of the scenarios described above. Families with incomes above 6 times the poverty line would cause their incomes to fall (partly because their companies` profits fall with higher labor costs), while families with incomes below this line would increase.  Journalist Derek Thompson summarized several studies in The Atlantic suggesting that government minimum wage increases and tighter labor markets led to faster wage increases for low-income workers than for high-income workers over the 2018-2019 period. What can I do if my employer does not pay me at least minimum wage? What can I do if my employer retaliates against me for asking if they are not receiving minimum wage? As of October 2016, 29 states had a minimum wage above the federal minimum. From 2014 to 2015, nine states increased their minimum wage levels through automatic adjustments, while another 11 states increased them through referendum or legislative action.  As of January 2019, Washington DC had the highest minimum wage in the country at $14.00 per hour.  The New York minimum wage for businesses with 11 or more employees was $15.00 per hour as of December 31, 2018.  On the same day, the New York minimum hourly wage for businesses with 10 or fewer employees was $13.50.  The minimum wage in Illinois will reach $15 per hour by 2025 and increase starting in 2020.  The federal minimum wage provisions are contained in the Fair Labour Standards Act (FLSA). The FLSA does not provide for procedures for the payment or collection of wages for an employee`s usual or promised wages or commissions beyond those required by the FLSA. However, some states have laws under which such claims (sometimes including benefits) can be filed. Visit the U.S.
Department of Labor`s Minimum Wage website for answers to many frequently asked questions about federal minimum wage requirements. Under Section 15 of Article XVIII of the Colorado Constitution, if either of the following two situations applies to an employee, the employee is entitled to the state minimum wage of $12.56 or the state minimum wage of $9.54 for workers as of January 1, 2022: During the first 90 calendar days of work for workers under 20 years of age, The minimum wage is $4.25 per hour. After 90 days, the regular amount of $7.25 is required. Full-time students in retail, service stores, or agriculture can earn at least 85% of minimum wage if the employer receives a certificate from the Ministry of Labor. In addition, the student may not work more than eight hours per day and no more than 20 hours per week during the school year and 40 hours per week when the school is not in session. In 2021, the Congressional Budget Office released a report estimating that gradually increasing the minimum wage to $15 an hour by 2025 would increase the federal budget deficit by $54 billion over ten years by increasing the cost of goods and services paid for by the federal government.  Some smaller government agencies, such as counties and cities, maintain higher minimum wages than the state as a whole. In 2003, San Francisco, California, and Santa Fe, New Mexico, were the first two cities to introduce local minimum wage regulations. Minimum wages at the county and city levels have increased. In 2010, only three cities had minimum wages above the state or federal minimum wage, but in 2020 there were 42.  Regardless of the decision, the idea of raising the minimum wage from $7.25 to $15 by 2025 is widespread, according to a Reuters/Ipsos poll. About 59% of respondents said they supported the idea, 34% rejected it. When asked if “raising the minimum wage should lift some families out of poverty, but government economists also expect it to eliminate some low-income jobs, which could worsen the situation for some families,” 55% of respondents said they supported it. About 40 percent of U.S. adults said they would benefit — personally or through a family member — if the U.S. raised the federal minimum wage. The Day 7 Overtime Act, which is separate from the Minimum Wage Act, requires employers who allow insured employees to work seven days per work week to pay the employee one and a half hours for hours worked on the seventh day if employees work every seven days of the work week.
The 7th day overtime law does not apply if the employee is not allowed to work more than 40 hours in total during the working week. The federal minimum wage was introduced in 1938 at a rate of $0.25 per hour (equivalent to $4.6 in 2020).  By 1950, the minimum wage had risen to $0.75 per hour.   The purchasing power of the national minimum wage fluctuates; It was highest in 1968, when it was $1.60 per hour (equivalent to $11.91 in 2020).   The real value of the 2016 federal minimum wage in dollars has fallen by one-third since 1968. The minimum wage would be $11 in 2016 if its real value had remained at 1968 levels.    Instead, he generally sought the 1960 real minimum wage. From January 1981 to April 1990, the minimum wage was frozen at $3.35 per hour, followed by a record minimum wage freeze.
From September 1, 1997 to July 23, 2007, the federal minimum wage remained constant at $5.15 per hour, breaking the previous record. On July 24, 2009, the minimum wage was adjusted to $7.25, where it has remained unchanged for the past twelve years.  On 20. In May 2021, Governor Daniel McKee signed a bill increasing Rhode Island`s annual minimum wage to $15.00; Tipped wages remain at $3.89.  A statistical meta-analysis conducted by Tom Stanley in 2005, however, found that there is evidence of publication bias in the minimum wage literature and that correcting for this bias shows no link between minimum wage and unemployment.  In 2008, Hristos Doucouliagos and Tom Stanley conducted a similar meta-analysis of 64 United States.