Long-Awaited Minimum Wage Increase

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Working full time, a minimum wage worker brings home only $10,712 a year, nearly $6,000 below the poverty level for a family of three. Today, minimum wage workers will see the first federal pay increase in a decade. Raising the minimum wage means a $4,400 yearly pay raise—money that could pay for 15 months of groceries, or more than two years of health care. It could buy 19 months of utilities, 20 months of child care, or 30 months of college tuition at a public, 2-year college. Over the next two years, the minimum wage will increase from $5.15 an hour to $7.25 per hour. Thanks to this increase, in 2009 a family of four will move from 11 percent below the poverty line to 5 percent above the poverty line. Nearly 13 million people will benefit from the increase.

Category: News
Uploaded: July 25th, 2007 @ 1:52 am
Author: NancyPelosi

Length: 04:37
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Views: 1,268

Tags: charles george hoyer increase miller minimum pelosi rangel speaker steny wage

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