With 2015 approaching, 21 states are set to increase their minimum wage. In nine states, the raise is called for by state laws. These include Arizona, Colorado, Florida, Missouri, Montana, New Jersey, Ohio, Oregon and Washington. In another four states – Alaska, Arkansas, Nebraska and South Dakota – residents voted to increase the minimum wage.). Further, in 7 states, legislators approved the minimum wage hikes. These include Connecticut, Hawaii, Maryland, Massachusetts, New York, Rhode Island, Vermont and West Virginia, legislators approved wage increases. The minimum wage hike means that private employers such as Wal-Mart, Target and McDonalds will be raising the pay for its minimum wage earners in numerous stores across the country.
Economists estimate that this will translate into more that $838 million in economic growth as workers put their increased income back into the economy.
The federal minimum wage remains at $7.25, although efforts are underway to increase this amount. The Fair Labor Standards Act (FLSA), which Federal law protects most workers right guarantees that employees earn at least minimum wage. Where states have a higher minimum wage than the federal limit, generally employers must pay their workers the higher amount.
For more information, or if you have any wage and hour questions or concerns about minimum wage or overtime pay, please contact the knowledgeable and experienced Georgia wage and hour lawyers at Buckley Beal LLP for an immediate consultation.