From wikiMHEDA

Material Handling Headlines

Washington, D.C. – Effective July 24, federal minimum wage rises by 11%, to $7.25 an hour from $6.55. It will put an extra $120 per month in the pockets of the more than 2 million workers who rely on incomes of less than $15,000 annually.

The raise is the third and final increase as mandated by the Fair Minimum Wage Act of 2007. An amendment to the Fair Labor Standards Act first hiked the federal minimum wage to $5.85 per hour from $5.15 in July 2007, and the following July it climbed to $6.55. Adjusted for inflation, the $7.25-per-hour wage is 25% less than it was in the late 1960s.

A 2008 National Small Business Administration survey of small and midsize businesses nationwide found that only 17% of small businesses employing fewer than 500 employees pay less than $10 per hour on average. A minimum-wage increase, therefore, will not directly affect all small businesses but could cause a ripple effect of higher wages as those earning just above the minimum expect their incomes to rise, commensurate with minimum-wage workers.

Read the full story at businessweek.com.

RSS Feed  

Comment(s) Post a Comment   Be the first to comment on this News Item.  Comment on this News Item: Name: Company: Email: Comment: Security Code: Reload Image Enter the text shown in the box above. Comments that include profanity, personal attacks or antisocial behavior such as "spamming," "trolling," or any other inappropriate material will not be posted to the site and/or will be removed from the site. You are fully responsible for the content you post. Neither the Association nor the publisher of this website, Data Key Communications, Inc, are responsible for the contents thereof or the opinions of the contributors. Contact and company information entered must be true and accurate. By submitting a comment, you agree to these terms and conditions.

More Headlines Showing Page 1 of 200 1 2 3 4 5 Next›   Last›› 12/20/2011 Manufacturers To Double Internships ...more | Comments Industry leaders commit to double engineering internships. 12/20/2011 New Orders Grow In 2011 ...more | Comments Equipment orders grow 17.1 percent in first half. 12/20/2011 Coca-Cola Moves To Fuel Cells ...more | Comments Crown Equipment to provide trucks. 12/19/2011 Robotics Event Held In Indiana ...more | Comments Indiana Robotics Invitational inspires young people. 12/19/2011 BMW Seeks Methane-to-Hydrogen Conversion ...more | Comments Automaker launches $1 million project to convert landfill gas. 12/19/2011 CEMA Reports Growth ...more | Comments Booked Orders Index up 7 percent over 2010. 12/16/2011 Small Business Contracting Increases ...more | Comments Federal government shows increase in contracting dollars to small firms. 12/16/2011 U.S. Leads World In Hydrogen Forklifts ...more | Comments More than 1,500 forklifts deployed or ordered in 2010. 12/16/2011 Supply Chain Impacted By Social Media ...more | Comments Social media are having an effect on supply chains and procurement. 12/15/2011 NMHG Receives Top Plant Award ...more | Comments Berea, KY manufacturing facility receives 2011 Top Plant Award.