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Minimum wage increases

July 24 2008

The federal minimum wage increased to $6.55 an hour today, the U.S. Department of Labor announced.

This marks the second increase in the minimum wage under the Fair Minimum Wage Act of 2007. In July 2007, the minimum wage had increased to $5.85 an hour. The third increase will take place in July 2009, and will raise the minimum wage to $7.25 an hour.

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