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Showing posts with label federal minimum wage. Show all posts
Showing posts with label federal minimum wage. Show all posts

Thursday, July 24, 2008

Fed minimum wage increase helps offset gas, food prices

WASHINGTON - About 2 million Americans get a raise Thursday as the federal minimum wage rises 70 cents. The bad news: Higher gas and food prices are swallowing it up, and some small businesses will pass the cost of the wage hike to consumers.

The increase, from $5.85 to $6.55 per hour, is the second of three annual increases required by a 2007 law. Next year's boost will bring the federal minimum to $7.25 an hour.
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