what is national minimum wage 2023

The federal minimum wage in the US is $7.25 per hour. However, states with their own hourly wage requirements may exceed this rate, but employers specifically covered by the Fair Labor Standards Act (FLSA) must adhere to the federal minimum wage. Some states have already increased their minimum wage for hourly workers after January 1, 2022, and more than twenty will provide additional increases going into 2023. The minimum wage increased to $9.50 per hour on July 1, 2023, in some states. The minimum wage varies from state to state, and some states have different minimum wages for small and large employers, tipped employees, and employees who receive company benefits. To ensure compliance with the latest minimum wage requirements, it is important to check the minimum wage rates by state.