Minimum Wage & Pay Rates
Bureau of Labor Statistics (BLS) experts say about 3.6 million workers earned wages at or below the federal minimum wage in 2009. At that time, the minimum wage rate was less than half of the mean hourly wage for the nation's overall workforce.
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National Pay Rates
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According to the BLS, the mean hourly wage for all occupations was $20.90 in 2009. The mean annual wage for all workers was $43,460 the same year.
Standard Minimum Wage
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As of 2010 the current minimum wage was $7.25 an hour. This translates to an annual salary of about $11,100 for individuals who work 40 hours a week.
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Youth Minimum Wage
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A separate minimum wage can be applied to youths and teenagers. In 2010 the minimum wage for individuals under 20 years of age is $4.25 an hour. However, the youth minimum wage can only be applied during the first 90 consecutive calendar days of a person's employment.
Minimum Wage Provisions
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Several provisions are in place in 2010 that allow employers to pay select workers less than the federal minimum wage. Physically and mentally impaired workers and employees who receive regular tips as part of their compensation are two major groups included in these provisions. The Department of Labor's website has a complete listing of exceptions.
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References
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