What Is Minimum Wage Hourly Rate, The Effects On Employment And Family Income Of Increasing The Federal Minimum Wage Congressional Budget Office

This is the minimum pay rate provided by the fair work act 2009 and is reviewed each year.

2020 minimum wage order. The national minimum wage. National minimum wage and national living wage rates the hourly rate for the minimum wage depends on your age and whether youre an apprentice. As of 1 july 2020 the national minimum wage is 1984 per hour or 75380 per week.

8590 won 75 usd or 86 ppp per hour is the nominal minimum wage in south korea although the real effective comparable minimum wage is higher at 10020 won 9 usd or 10 ppp per hour due to a mandatory weekly paid holiday for people that work more than 15 hours per week a law that is absent in other developed countries. The fair labor standards act flsa determines the minimum wage for employees in private and public sectors in both federal and state governments. Will rise to at least 1520 on june 1 2021.

There are some exceptions to the application of the minimum wage act 1983 and a small number of people with a disability hold an exemption permit from the minimum wage. The minimum wage the lowest hourly amount that an employee may be paid for their labor is determined by both state and federal labor laws in the united statesunder the federal fair labor standards act states and localities are permitted to set their own minimum wage rates which will take precedence over the federal minimum wage rate if they are higher. Effective as of october 1 2018.

Casual employees covered by the national minimum wage also get at least a 25 casual loading. Rules calculating the hourly rate. Effective as of october 1 2020.

For example an employee who works only 2 hours at a time must still get the minimum wage for each of these hours unless the employee and employer have agreed to a higher rate in the employment agreement. Award and agreement free juniors get paid a percentage of the national minimum wage. Under the flsa non exempt employees must be paid the minimum wage or higher.

Different types of minimum wage rates has more information on the different types of minimum wage rates. The national minimum wage applies to employees not covered by an award or registered agreement. The basic method of calculation is to divide the gross pay by the total number of hours worked as set out in the national minimum wage act 2000 section 20however it must be clear from the start what pay is taken into account what hours are included as working hours and what period the calculation covers the pay reference period such as weekly or monthly.

The national minimum wage is currently 1984 per hour or 75380 per 38 hour week before tax. The minimum wage in bc. This page is also available in welsh cymraeg.

Effective as of june 1 2020. The minimum wage applies to all hours worked.