Federal Minimum Wage Increase Takes Effect

On Tuesday, the first increase in the federal minimum wage increase in nearly 10 years took effect. The federal minimum wage is now $5.85 per hour, up from $5.15 per hour. In May, Congress finalized a law which would raise the federal minimum wage in three stages -- the first of which came Tuesday -- to $7.25 per hour over the next two years. According to the Associated Press, Tuesday's increase "ends the longest span without a federal minimum wage increase since the pay floor was enacted in 1938."

• AP News: Federal Minimum Wage to Rise by 70 Cents
• State Minimum Wage Laws (FindLaw)
• Employee Rights: Wages and Benefits (FindLaw)