What Is The Current Federal Minimum Wage Quizlet, Labour Economics Minimum Wages Flashcards Quizlet

The federal minimum wage for covered nonexempt employees is 725 per hour.

Marijuana news legalization. Again each state can set its own base wage. In cases where an employee is subject to both the state and federal minimum wage laws the employee is entitled to the higher of the two minimum wages. If a states minimum wage is greater than the federal minimum pay employees at least the states minimum wage.

Many states also have minimum wage laws. The current federal minimum wage as of 2018 is 725 per hour. If a state has a minimum wage that is higher than the federal minimum wage an employer in that state is only required to pay an employee the federal minimum wage.

The real value of the minimum wage is expressed in constant dollar or inflation adjusted values. Quizlet flashcards activities and games help you improve your grades. The wage has been raised 22 times since then.

By federal law the minimum wage needs to increase at least every two years and more often than that. Minimum wage by state. How much is it at the time the episode aired 2005.

For example the minimum rate in michigan is 965 per hour. When the flsa was passed in 1938 the minimum wage was 25 cents an hour for covered workers. The current federal minimum wage is 725 per hour.

A minimum hourly wage that would be enough to cover basic living costs if working a 40 hour week a minimum hourly wage that is in line with inflation rates an eight hour workday overtime pay and a minimum hourly wage. Pros and cons of minimum wage learn with flashcards games and more for free. A person working full time at the federal minimum wage of 725 per hour earns 15080 in a year which is 20 higher than the 2015 federal poverty level of 12331 for a one person household under 65 years of age but 8 below the 2015 federal poverty level of 16337 for a single parent family with a child under 18 years of age.

The current federal minimum wage is 725 per hour. Minimum wage vocab study guide by sarahluds includes 16 questions covering vocabulary terms and more. 725 this would equal to 15000yearly at 40hrsweek.

The fair minimum wage act of 2007 the nominal value of the minimum wage is expressed in current dollar values and is not adjusted for inflation. Log in sign up. Both alex and morgan must work minimum wage jobs.