Economic Overview of the United States Minimum Wage

Introduction This report is an economic overview of the minimum wage in the United States. We explain from three viewpoints how consumers, businesses, and communities are affected by the new minimum wage law. The purpose of this report is to provide the information necessary to ascertain how the minimum wage attribute increases for multiple effects. This report also explains the pros and cons of many people on the government's involvement in the US recruitment of the new minimum wage law.

In the United States, the minimum wage standard promulgated by the Fair Labor Standards Act of 1938. According to the Institute of Economic Policy Research, if the minimum wage is synchronized with labor productivity, the minimum wage in the US in 2013 is $ 18.28. It is proposed to raise the minimum wage to $ 22 (or more) per hour to adjust the productivity of American workers. If the wage rate of unskilled workers exceeds the level determined by market force because of the high minimum wage, employment of unskilled workers will decrease. Minimum wages pricing the service of workers with the lowest productivity (thus minimum wage). ... The direct result of the minimum wage law is clearly complicated. Some workers, perhaps the workers closest to the minimum wage, will enjoy higher wages. Other people, especially those with the lowest revised wage rate, can not find a job.

In the United States, various states can set their own minimum wage regardless of the federal government. If the minimum wage of the state and the federal are different, higher wages will take precedence. As of January 2018, there were 29 states whose minimum wages exceeded the federal minimum wage. Washington State's minimum wage is $ 11.50 per hour. In recent years, some states have also enacted state - preferred purchasing laws that restrict the rights of local governments and prohibit local governments from setting their own minimum wages. As of 2017, the State's minimum wage preferred purchase method is adopted in 25 states.

Until recently, the minimum wage of American Samoa was different from that of the continental United States. The Committee within the Ministry of Labor will set Samoa's minimum wage criteria based on regional economic conditions. In January 2007, the minimum wage for the can manufacturing industry was $ 3.26 per hour. Unfortunately, for American Samoa, Congress applies the federal minimum wage to the area in 2007. This bill adjusts Samoa's minimum wage to the US Tax rate of $ 7.25 per hour, which is an annual increase of 50 cents.

1 American Samoa: The Fair Minimum Wage Act of 2007 (Public Law 110-28) sets the minimum wage of American Samoa and the minimum wage paying a minimum wage of $ 0.50 per hour up to May 25 each year is US It applies to. The wage rate is set for a specific industry, not for a specific occupation. Rate is the lowest rate; employers can choose to pay employees at rates higher than their industry rate