May 30, 2007
Increase In Minimum Wage
On May 25, 2007, President Bush signed into law the Fair Minimum Wage Act of 2007, which amends the Fair Labor Standards Act ("FLSA") to provide for several increases to the federal minimum wage.
On July 24, 2007 the federal minimum wage will increase to $5.85. On July 24, 2008 it will increase to $6.55. Finally, on July 24, 2009 it will increase to $7.25.
Employers should be aware that where a state minimum wage conflicts with the federal minimum wage, the higher of the two wages applies.
The current minimum wage in New York is $7.15. The current minimum wage in New Jersey is $7.15.
The current minimum wage in Connecticut is $7.65.
Thus, the applicable state minimum wage in the tri-state area exceeds the federal minimum wage through 2008.
If you have any questions about the Fair Minimum Wage Act of 2007, or the applicable state laws, please do not hesitate to contact us. |
