Are you curious about the minimum wage in the US? Many states have their own minimum wage laws, and in cases where an employee is subject to both state and federal minimum wage laws, they are entitled to the higher of the two. This article will provide an expert's guide to the minimum wage in the US, including information on indexed annual adjustments, transferable benefits, and more.
Automatic Indexed Annual Adjustments
The annual increases indexed according to the labor cost index begin on January 1, 2024 based on the cost of living based on the annual increase. Constitutional Amendment 200 provides for annual increases indexed according to the Consumer Price Index (CPI).Transferable Benefits
As non-traditional workers become an increasingly large part of the US workforce, states are considering the benefits of transferable benefits such as health care and retirement savings to attract and retain employees. James Maroney has written extensively on the topic of portable health, retirement and other benefits for independent contractors and contract workers.Equal Pay Act of 1963
The Equal Pay Act of 1963 (Public Act 88-3) prohibits gender-based wage differentials between men and women employed in the same establishment who perform jobs that require the same effort, skills and responsibility.Tips
In states where tips are allowed, employers must pay workers at least the highest minimum wage than those prescribed by federal, state and local laws.Tips collected by employees in these states will not compensate for the employer's obligation to pay the salary, and tips are additional income beyond the salary paid by the employer. Understanding minimum wage laws can be complicated. If you have any questions or need more information about minimum wage laws in your state or locality, contact your local labor office or a qualified employment attorney.
