Federal minimum wage increases Friday
The federal minimum hourly wage will increase this Friday (July 24, 2009) to $7.25 per hour. This is the last and final increase put in place by The Fair Minimum Wage Act of 2007. Many states have a seperate state minimum wage different from the federal. Employers are required to pay which ever (federal or state) minimum wage amount is higher to their employees. Colorado’s minimum wage of $7.28 per hour is higher than the required federal minimum wage, therefore Colorado employers will need to use the states minimum wage.