Home Minimum Wage

Minimum Wage

Minimum Wage 2008

Minimum Wage 2008

 

The Fair Minimum Wage Act, which was passed in 2007 as an amendment to the Fair Labor Standards Act, introduced an incremental increase in the federal minimum wage, which happened over a three year period. This increase was complete by July, 2009, when the national minimum wage reached $7.25. In regard to minimum wage, 2009 was year in which the federal standard increased notably.

Minimum wage 2008 national standards were set at $6.55 for each hour that an employee worked. Minimum wage 2009 values increased by 70 cents. This increase was intended to ensure that all employees within the United States were being provided with fair and adequate incomes. In addition, the Fair Minimum Wage Act helped employees working in the lowest paid jobs cope with inflation and increases in living costs.

The national minimum wage 2009 increase affected many states. While some states had taken the initiative to establish higher minimum wages, most maintained the standard set by the federal government. Following the federal increase, these states were also required to increase their minimum wages.

In total, the minimum wage increase that occurred between 2008 and 2009 affected more than 30 different states. While this was beneficial for many individuals, it also created additional complications for some groups of people. For example, it became more difficult for teenagers who were seeking employment at the time of the increase to obtain a job. 

 

 

Understanding Wages And Salaries

Understanding Wages And Salaries

When considering minimum wage standards and the various effects of minimum wage, it is first important to understand what wages are, how they function, and how they differ from salaries. Employment wages are not always identical to living wages. The term living wage refers to the minimum wages that are necessary for an individual to support him/herself and acquire basic necessities.
 
 
A living wage will vary depending upon where an individual resides. If an individual lives in an expensive city or suburb, hourly wages that are set to meet federal minimum wage standards will most likely not be an adequate living wage. This means that, in many locations, minimum wages do not provide employees with the financial funds necessary to purchase necessities, including food, clothes, housing, transportation, medical care, etc. When a living wage exceeds the wages that an individual is earning, it can be very difficult for him/her to support him/herself. 
 
 
When an individual is earning wages, he/she is being paid on an hourly basis. For every hour that he/she works, he/she is guaranteed a specified amount of money. Salaries work differently. Generally, when an individual earns a salary, he/she will be promised a specific amount of money every week, which, when totaled, will provide him/her with an agreed upon annual salary.
 
 
There are some benefits and disadvantages associated with both of these payment methods. If an individual is earning hourly wages and becomes ill, he/she is not compensated for the time that he/she is not able to work. However, he/she must be paid overtime if overtime is necessary. If an individual earns a salary, he/she will not be compensated for any extra hours that are worked to complete necessary tasks. If he/she finishes her work early, he/she will receive the same salary as if he/she worked the additional hours. 
 

What You Need to Know About Wages Calculator

What You Need to Know About Wages Calculator

Wages calculators are helpful tools that allow an individual to determine his/her how much money he/she will receive over specified periods for the job that he/she is performing. In many instances, an individual will be required to know his/her annual income.

For example, if an individual is applying for a loan. such as a home mortgage loan, he/she will be required to provide lenders with this information. If his/her annual income is not adequate, he/she will not be granted a loan. An individual may find it difficult to determine his/her annual income if he/she is paid on an hourly basis. A wages calculator will help an individual to acquire this information quickly and easily.

If an individual needs to know his/her annual income, he/she can located a wages calculator online. He/she will be required to enter some basic information into the calculator, including the number of hours he/she works each week and his/her hourly wages. Many wages calculators will also allow users to use a annual format. Subsequently, the calculator will display an individual's income for the month and year. 

Wages calculators are not only useful for helping an individual to determine his/her annual income. They can also be used to discover the living wages in certain locations. There are a number of different websites that use wages calculators to determine the living wages in cities throughout the United States. These websites provide the average cost of living for the various counties within each state. This will help an individual to determine how much money he/she must earn each hour to reside in these locations. 

 

 

Wage Gap Explained

Wage Gap Explained


The term wage gap is used to describe the discrepancy that exists between various extremes or portions of the working population, in regard to their salaries or wage rates. In short, one group within the working population may be making an extensive amount of money, while another group within a similar field may be earning notably less.

Historically, the term wage gap referred to the difference in wage rates earned by male and female employees. Throughout history, working women have earned less money than male employees, for performing identical work. Despite legislation that prohibits employers from taking part in this behavior, many companies continue to pay women less than men. This wage gap has caused serious complications throughout the United States. It is believed that, if the wage gap was eliminated, the poverty rate in the United States would decline significantly.

In addition to the wage gap that exists between women and men, there is also a wage gap between white employees and minorities. On average, minorities who are employed within the united States make significantly less money than white employees. This is true in both male and female population. White males earn more than black or Hispanic males, while white females earn higher wage rates than black or Hispanic females.

Discrimination in the workplace is illegal, whether an individual is being discriminated against based upon his/her race, ethnicity, or sex. Nevertheless, the wage gap persists. The wage gap in the United States continues to remain around 77 percent.

 

 

What Does Prevailing Wage Mean

What Does Prevailing Wage Mean

The term prevailing wage rates refers to the median wages earned by employees who work in a specific location, performing a specific job. In most instances, a prevailing wage rate is determined for each individual county within a state. Certain jobs or positions will be defined, such as general laborer, and the median hourly earnings will be determined for each of these positions.
The prevailing wage attributed to a specific profession can vary significantly from one state to another, and even from one county to another. An individual should be able to locate a chart that identifies the prevailing wage rates for a his/her state online. In most instances, the chart will be divided into counties and a different prevailing wage will listed for each position. For example, in the county of Columbia, Washington, the prevailing wage for brick pavers is $32.41, while in Pierce County, also located in Washington, the prevailing wage for the same position is $40.03.
In addition to considering median hourly wages, prevailing wage rates may also take into account the benefits that accompany this position and the potential overtime pay. Prevailing wage rates do not necessarily determine the amount that an individual will earn if he/she works in this profession.
Despite the existence of a relatively high prevailing wage rate, an individual can still earn as little as the specified minimum wage. However, by reviewing this information, an individual can determine the approximate, average earnings of a professional in a specified field within a certain location. Comparing various prevailing wages can help him/her to discover where his/her profession is most successful and which professionals are most successful in his/her location. 

Minimum Wages Act

Minimum Wages Act

The Federal Labor Standards Act is the minimum wages Act that governs the use of minimum wage standards in the United States. This minimum wages act specifies the national minimum wage standard for the country. Recent amendments to the Federal Labor Standards Act have increased the federal minimum wage to $7.25 for every hour that an employee works.

This legislation allows each state to create its own, independent minimum wage, if it chooses to set a minimum wage higher than the standard established by the FLSA. However, a state cannot establish a minimum wage that is below that specified in the FLSA. In addition to determining the federal minimum wage, the FLSA also outlines who qualifies to receive minimum wage and prohibits employers from practicing discrimination regarding wages.

The Federal Labor Standards Act specifies which employees are entitled to minimum wage rates. Not all employees must be provided with the designated $7.25 per hour. In a small firm or company earns under $500,000 worth of annual revenue, the employees working for this firm may not receive minimum wage. However, if he/she took produced certain goods or took part in interstate commerce, he/she may still be eligible to receive minimum wage.

This minimum wages act establishes an independent minimum wage for individuals who have not yet reached 20 years of age. These individuals cannot be paid under $4.25 for each hour that they work. The Act also makes gender discrimination illegal and states that male employees and female employees must be paid the same wages if they are performing the same duties and working the same hours. 

 

 

Minimum Wage 2009

Minimum Wage 2009

 


Minimum wage 2009 standards were set at $7.25. Between the years 2007 and 2009, there was a consistent and notable increase in the national minimum wage. This resulted from amendments that were made to the Federal Labor Standards Act, which implemented an rise in minimum wage rates over a specified period of time. As a result of these amendments, the minimum wage increased in increments over a three year period.

In 2009, the federal minimum wage reached $7.25. Following this increase, the amendments expired. No further amendments have been made to the FLSA since the latest minimum wage increase in 2009, and therefore, minimum wage 2010 standards have remained the same. In 2010, the national minimum wage remains $7.25 for each hour that an individual works.

Just as the federal minimum wage 2010 standards did not increase, many of the state specified minimum wages remained the same. For example, Washington and Oregon are both known for setting minimum wages higher than the national standard. These states frequently increase the specified minimum wage rates. 

However, in 2010, neither Washington or Oregon increased their minimum wages. Washington maintained a minimum wage of $8.55 per hour, while Oregon kept its minimum wage at $8.40 per hour. Connecticut is another state that usually maintains a minimum wage that is higher than the federal minimum wage. In 2010, Connecticut increased its state minimum wage from $8.00 per hour to $8.25 per hour.

 

Minimum Wage Explained

Minimum Wage Explained


What is Minimum Wage
Minimum wage laws play a vital role in protecting individuals from exploitation in the work place. When the federal government specifies the national minimum wage, all employees working in the United States must be compensated this amount of money for each hour that they work. Independent minimum wages can also be established by each state. 

Minimum Wage History
Minimum wage history was initiated numerous decades ago, when the United States government sought to protect marginalized individuals, such as women, from exploitation. Wage determination laws were put in place in order to help ensure that all employees receive a fair and reasonable income for the work that they perform. 

Minimum Wage Laws
Since the establishment of the first minimum wage laws, most countries have created wage and hour regulations, which employers are required to adhere to. Minimum wage laws and regulations vary a great deal from one country to another. Every country has created different wage and hour guidelines for employers to follow. 

National Minimum Wage
A national minimum wage is set by a government to regulate minimum wages within that country. In the United States, the federal minimum wage determines the absolute minimum hourly income an employer can provide his/her employees. Though states are able to create their own minimum wages, these can not be lower than the specified federal minimum wage. 

Minimum Wage 2008 vs. Minimum Wage 2009

When considering the minimum wage 2009 vs. the previous minimum wage 2008, individuals will notice a significant increase in the federal minimum wage. This increase was due to legislation that initiated an incremental rise in the national minimum wage standard. The associated Act increased the minimum wage over a three year period. 
Wages vs. Salaries
Wages and salaries are both types of payment methods provided to employees by employers. These payment methods vary significantly, and they each offer employees different benefits and disadvantages. Wages and salaries do not necessarily satisfy the living wage of a specific location. It is important for an individual to understand the various features of each of these payment plans when considering minimum wage standards. 

Wages Calculator
Wages calculators can be used for a number of different purposes. For example, a wage calculator can help an individual to determine his/her annual income, by quickly completing a mathematical equation using some basic information. In addition, these calculators are frequently used to determine the cost of living in specified locations. 

Wage Gap
Despite the establishment of legislation the prohibits discrimination and wage discrepancies in the work place, there continues to be a significant wage gap in the United States. Wage rates vary significantly, based upon an individuals sex, race, and ethnicity. If this wage gap was closed, the poverty rate would most likely improve notably. 

Prevailing Wage
Prevailing wage rates are the median wages that are earned by individuals employed within certain fields within specified locations. The prevailing wage rates for a variety of different positions are usually determined for each county. Reviewing this type of information can help an individual to determine where his/her profession receives the highest wages. 

Minimum Wages Act
In the United States, the minimum wage act that regulates the minimum wage standards is known as the Federal Labor Standards Act. This legislation also specifies who is eligible for minimum wage rates. Many countries throughout the world have adopted minimum wage acts, in order to ensure that employees are compensated fairly. 

Minimum Wage 2009 vs. Minimum Wage 2010

In general, when comparing minimum wage 2009 standards and minimum wage 2010 standards, on both a federal level and a state level, there was no change. A few states, including Connecticut, did raise their state minimum wage rates. However, most states maintained the rates that were used in 2009. 


Wage Slips
Wage slips are important documents that detail an individual’s earnings and any deductions that are made from his/her income. These records are important in determining whether an employer is adhering to labor laws, such as minimum wage regulations. 


How Much is Minimum Wage
The established minimum wage standards vary substantially from one location to another. For example, the minimum wage in the United States is notably less than the minimum wage in Australia. In addition, minimum wage rates usually range depending upon the age of the employee. In most locations, there is a youth minimum wage rate, the is given to minors or individuals who have not yet reached a specified age. 

Quick Glance Into Minimum Wage

Quick Glance Into Minimum Wage

In order to help ensure that employers do not take advantage of their employees, a minimum wage requirement was established in the United States. Minimum wage is the lowest amount of money that an employer can legally pay his/her employees every hour. This helps to protect employees from exploitation, especially in a struggling economy when unemployment rates are high.
If the minimum wage laws were not established, many employers would pay employees very low wages, making it difficult for these individuals to survive and handle financial responsibilities. Minimum wage legislation is particularly pertinent to young individuals, elderly individuals who must return to work, and individuals with low socioeconomic statuses. Without minimum wages, these individuals may receive unacceptably low incomes. 
Minimum wages are established on a federal and a state level. The federal government has created a national minimum wage. Every individual working within the United States must be paid the specified amount of money for each hour that they work.
Each state is permitted to establish an independent minimum wage. However, the minimum wage that is established by a state must match or exceed the minimum wage that is specified by the federal government. Few states have chosen to establish a minimum wage greater than the minimum wage set by the federal government.
Oregon, Washington, and Connecticut are some of the states that have created higher minimum wages for employees. In these states, minimum wages often rise with inflation, and therefore, as the cost of living increases, so to does the minimum wage in these states. 

A Look Into Minimum Wage History

A Look Into Minimum Wage History


Minimum wage history began when sweat shops become increasingly popular throughout the United States. Manufacturing industries throughout the country relied on sweat shops as a way to acquire cheap labor and save money. This was before women gained a strong presence in the United States work force. Therefore, sweat shops would target women and younger individuals who needed an income to support themselves.

Since these individuals were not considered valuable to most employers at the time, sweat shops were able to employ these individuals for very little money. The lack of opportunities available for women and other marginalized individuals forced them to accept the wages offered by sweat shops that were operating in the United States. In order to help control the expansion of sweat shops and ensure that all individuals were provided with fair compensation, the United States government proposed federal wage determination legislation, which is known as minimum wages.

The first federal wage determination law was established in 1938 and the minimum wage was set at 25 cents. There was an extensive amount of debate regarding the creation of a minimum wage law. Many individuals argues that this would have little affect on improving poverty rates.

However, the wage determination laws have remained in affect since the were passed decades ago. Throughout minimum wage history, the specified minimum wage has continuously increased. Today, the minimum wage is much higher than it was 1939, in order to compliment the substantial increase in the cost of living.