Alex What are some questions about minimum wage?
Questions and Answers About the Minimum Wage
- What is the federal minimum wage?
- What is the minimum wage for workers who receive tips?
- Must young workers be paid the minimum wage?
- What minimum wage exceptions apply to full-time students?
- What minimum wage exceptions apply to student learners?
What is an effective minimum wage law?
Methodology: The effective minimum wage is the binding federal, state or local minimum wage weighted by the usual labor hours of minimum wage workers at nonfarm wage and salary jobs paid hourly.
What are the effects of an effective minimum wage?
Minimum wages reduce employment opportunities for youths and create unemployment. Workers miss out on on-the-job training opportunities that would have been paid for by reduced wages upfront but would have resulted in higher wages later.
What is the new federal minimum wage for 2021?
States with minimum wage increases in 2021:
| State | 2020 Minimum Wage | 2021 Minimum Wage |
|---|---|---|
| California (large employers) | $13 | $14 |
| California (small employers) | $12 | $13 |
| Colorado | $12 | $12.32 |
| Connecticut | $12 | $13 |
When did the federal minimum wage go up?
Under the Fair Labor Standards Act (FLSA), the federal minimum wage for covered nonexempt employees is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher minimum wage rate.
What are the arguments for and against the minimum wage?
Supporters of the minimum wage say it increases the standard of living of workers, reduces poverty, reduces inequality, and boosts morale. In contrast, opponents of the minimum wage say it increases poverty, increases unemployment because some low-wage workers “will be unable to find work…
How does a moderate minimum wage increase employment?
Modern economics suggests that a moderate minimum wage may increase employment as labor markets are monopsonistic and workers lack bargaining power.
Is the minimum wage an obligation of the employer?
No. The minimum wage is an obligation of the employer and cannot be waived by any agreement, including collective bargaining agreements. Any remedial legislation written for the protection of employees may not be violated by agreement between the employer and employee.
Under the Fair Labor Standards Act (FLSA), the federal minimum wage for covered nonexempt employees is $7.25 per hour effective July 24, 2009. Many states also have minimum wage laws. Where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher minimum wage rate.
What is the minimum wage and what are the rules?
Minimum Wage Law and Rules. Minimum wages are defined as the lowest hourly, daily and monthly wage that an employer is allowed to pay an employee. On the other side of the spectrum, it is the lowest amount that an employee can charge for their labor.
How is minimum wage enforced in New York?
View minimum wage rates through 2021 . New York State Department of Labor helps collect underpayments for workers who have not received the minimum wage. Often, funds are collected without resorting to court action. However, an employer that violates the Minimum Wage Law is subject to criminal prosecution and penalties.
What happens if an employer fails to pay the minimum wage?
The Commissioner of Labor may require an employer to pay: 1 Minimum wage underpayments and liquidated damages, PLUS 2 Interest and civil penalties up to 200% of the unpaid wages More