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Federal Minimum Wage Remains at $7.25 Per Hour Since 2009

Federal Minimum Wage Remains at $7.25 Per Hour Since 2009

The federal minimum wage in the United States has been set at $7.25 per hour since July 24, 2009. This rate applies to most employers, even in states like Georgia where the state minimum wage is lower at $5.15 per hour. Employers are generally required to pay the higher of the federal, state, or local minimum wage. For instance, Illinois has a state minimum wage of $15 per hour as of January 1, 2025, for workers 18 and older, with a rate of $13 per hour for workers 17 and younger who work less than 650 hours annually. Cook County, excluding Chicago, will see its minimum wage rise to $15.40 per hour starting July 1, 2026, while Chicago's minimum wage will be $17.05 per hour for employers with four or more workers on the same date. The Fair Labor Standards Act (FLSA) establishes these federal standards, including minimum wage and overtime pay.
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Malaysia to raise minimum wages, expand tax relief in $112.5 billion 2027 spending boost

Malaysia to raise minimum wages, expand tax relief in $112.5 billion 2027 spending boost

By Rozanna Latiff and Ashley Tang KUALA LUMPUR, Oct 9 (Reuters) - Malaysia unveiled a host of tax relief measures on Friday and said it would raise minimum wages next year, as the government looked to boost household incomes and support small businesses ahead of a possible election despite growing
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Canada's employment surprisingly shrinks in September, jobless rate inches up

Canada's employment surprisingly shrinks in September, jobless rate inches up

By Promit Mukherjee OTTAWA, Oct 9 (Reuters) - Canada's economy stunned widespread expectations to post a massive job loss in September and the unemployment rate edged up, data showed on Friday, effectively wiping off all the gains in jobs that was seen this year.
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S Corporation Association Challenges Treasury's Tax Rate Study Conclusions on Income Inequality

S Corporation Association Challenges Treasury's Tax Rate Study Conclusions on Income Inequality

S Corporation Association Challenges Treasury's Tax Rate Study Conclusions on Income Inequality
ReutersReuters
Canada's employment unexpectedly shrinks in September, jobless rate inches up

Canada's employment unexpectedly shrinks in September, jobless rate inches up

By Promit Mukherjee OTTAWA, Oct 9 (Reuters) - Canada's economy shed a net 68,300 jobs in September and the unemployment rate edged up, data showed on Friday, erasing all the employment gains recorded earlier this year. 
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Cleveland-Cliffs CEO Links Stelco Worker Recalls to U.S.-Canada Steel Trade Deal

Cleveland-Cliffs CEO Links Stelco Worker Recalls to U.S.-Canada Steel Trade Deal

Cleveland-Cliffs CEO Links Stelco Worker Recalls to U.S.-Canada Steel Trade Deal
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Federal Minimum Wage Remains at $7.25 Per Hour Since 2009, While State and Local Rates Increase

Federal Minimum Wage Remains at $7.25 Per Hour Since 2009, While State and Local Rates Increase

The federal minimum wage has been set at $7.25 per hour since July 24, 2009. This standard applies across the United States, though individual states and localities have the authority to establish higher minimum wage rates. For instance, Illinois is set to increase its minimum wage to $15 per hour for workers aged 18 and older, and $9 per hour for tipped workers, starting January 1, 2025. For younger workers (17 and under) who work less than 650 hours annually, the Illinois minimum wage will be $13 per hour. Cook County, excluding Chicago, will see its minimum wage rise to $15.40 per hour and $9.25 for tipped employees starting July 1, 2026. The City of Chicago will implement a minimum wage of $17.05 per hour and $12.96 for tipped workers on the same date, applicable to employers with four or more employees. Employers are required to ensure that tipped workers' wages and tips combined meet the full minimum wage.
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EU sends envoy to Beijing as rising exports from China raise economic anxiety

EU sends envoy to Beijing as rising exports from China raise economic anxiety

The European Union is bracing for a confrontation with China as a trade deficit exceeding $1 billion a day heightens anxiety over potential job losses and pushes the bloc’s political leaders to take a more aggressive approach toward its second-largest trading partner
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Rallying-US back on world championship calendar for first time since 1988

Rallying-US back on world championship calendar for first time since 1988

Oct 8 (Reuters) - The United States will return to the World Rally Championship next season for the first time since 1988 with the 11th round in August, organisers said on Thursday. The August 26 to 29 rally will use the same stages in Tennessee and Kentucky tested at a candidate event last June.
Nashville TennesseanNashville Tennessean
Nashville should treat arts as infrastructure in the AI era | Opinion

Nashville should treat arts as infrastructure in the AI era | Opinion

As AI reshapes the workforce by 2030, Nashville leaders must treat the arts as vital economic infrastructure.
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Economists Debate U.S. Fiscal Policy's Role in Bond Sell-Off and Inflation, Propose Divergent Solutions

Economists Debate U.S. Fiscal Policy's Role in Bond Sell-Off and Inflation, Propose Divergent Solutions

Economists Debate U.S. Fiscal Policy's Role in Bond Sell-Off and Inflation, Propose Divergent Solutions
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US weekly jobless claims fall as layoffs remain low

US weekly jobless claims fall as layoffs remain low

WASHINGTON, Oct 8 (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued labor market stability despite job growth slowing sharply in September.