Federal Minimum Wage Increased to $6.55 on July 24, 2008

The federal minimum wage increased to $6.55 on Thursday, July 24, 2008. With this change, employees who are covered by the federal Fair Labor Standards Act will be entitled to pay at no less than $6.55 per hour.

This increase is the second of three provided by the enactment of the Fair Minimum Wage Act of 2007. A third minimum wage increase to $7.25 an hour will become effective on July 24, 2009. Last year, on July 24, 2007, the minimum wage increased to $5.85 an hour.

This summer also marks the 70th anniversary of the Fair Labor Standards Act, the federal law providing minimum wage, overtime and child employment standards.