The federal minimum wage is going up to 7.25 per hour. What effect, if any, is there to those of us who already make more than 7.25 per hour?
2007-01-10 10:24:47 · 4 answers · asked by BMW BFD 5 in Business & Finance ➔ Careers & Employment
No effect. Sorry. Just be glad that you aren't one of those who really is making $5.15 an hour - if you've been making above $7.25, you've been that much better off all along (not that it's easy at $8 or $10 an hour).
2007-01-10 10:41:52 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Someone making about 10/hour may care more than someone making 16/hour since it seems so close to the new minimum, but you and I both know employers will pretend not to notice and it'll be business as usual. Just because minimum wage went up, I doubt employers are going to think, "Oh, I'd better give all my above-minimum wage employees a raise now!" That'll be the day. But I'm grateful I'm on a steady salary and my pay is more than adequate for what I do, which is sit on my *** in an office for 6 hours out of the 8 I'm here! Hooray for fancy schoolin'! LOL
2007-01-10 10:47:59 · answer #2 · answered by Anonymous · 2⤊ 0⤋
none whatsoever, however, many stores use it as an excuse to raise prices, so your money doesn't go as far.
2007-01-10 10:42:46 · answer #3 · answered by judy_r8 6 · 1⤊ 0⤋
Their spending capability will be reduced when companies start charging more to pay for their employees. THANKS!
2007-01-10 10:41:56 · answer #4 · answered by BobbyD 4 · 0⤊ 1⤋