Minimum Wage Goes to $7.25/Hr

The federal minimum wage will increase next week. As of Friday, July 24th, minimum wage will increase from $6.55 to $7.25 per hour, in the last of a three step increase. This comes as part of the enactment of the Fair Minimum Wage Act of 2007. A full-time minimum wage employee can expect to make about 120 dollars more per month under the 2007 act.