Beginning, January 1, 2020, if a worker under 18 works more than 650 hours for the employer during any calendar year, they must be paid the regular (over 18 wage). However, many states have their own minimum wages, including 29 that are currently higher than the federal rate. : 1 The Federal minimum wage began in 1938 at $0.25 an hour, or about $4.59 in 2020 dollars. Illinois’ minimum wage rose from $9.25 to $10; Nevada’s minimum wage rose from $7.25 to $8 for workers with health insurance, and from $8.25 to $9 for those without health coverage; and Oregon’s minimum wage rose from $11.25 to $12. Minimum wage: $0.75 In 2021 money: $8.05 By 1950, the recession that followed World War II was over and America was entering an unprecedented era of prosperity and economic stability. The current federal minimum wage is $7.25 per hour, which leads to a full-time minimum wage of $15,080 per year. The federal minimum wage for covered nonexempt employees is $7.25 per hour. What State Has the Highest Minimum Wage? 1 American Samoa: The Fair Minimum Wage Act of 2007 (Public Law 110-28) sets minimum wage rates within American Samoa and provides for additional increases in the minimum wage of $0.50 per hour each year on May 25, until reaching the minimum wage generally applicable in the United States.The wage … … Many states also have minimum wage laws. If the minimum wage provision survives and the final reconciliation bill is enacted, all workers in the U.S. will be paid at least $15 per hour by 2025. The effective nationwide minimum wage, the wage that the average minimum wage worker earns, is $11.80 as of May 2019. In addition, 18 municipalities and three counties announced minimum wage … In 2012, the poverty threshold for a single person was $11,945 and $22,283 for a family of four with two children. No. An individual who works minimum wage for a full year will make enough to live above the … Full-time work means working 2,080 hours each year, which is 40 hours each week. 2009: Thanks to legislation passed two years earlier, the federal minimum wage rises to $7.25. Certain employees must be paid overtime, at time and one-half of the regular rate, after … In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages. Is the Federal Minimum Wage Rising in 2021? Come Friday, many low-wage workers across the US are getting a pay bump. Notes. The federal minimum wage has remained $7.25 since 2009. Tipped employees may be paid 60% of the hourly minimum wage. The annual earnings for a full-time minimum-wage worker is $15,080 at the current federal minimum wage of $7.25. In most of these states, the minimum wage will rise on January 1, 2021. This is the highest it has been since at least 1994, the earliest year effective minimum wage data was available. However, in Connecticut, Florida, Nevada, Oregon and Virginia, the minimum wage rise will occur later in the year.