Minimum wage

Monday, November 30, 2009

  • Will $5 extra really make a difference

    Andy’s Avatar

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    By Andy, on Fri Aug 22, 2008 12:48pm PDT

    Getty Images

    Getty Images

    The Federal minimum wage rose 70 cents, from $5.85 to $6.55 last week. This works out to roughly $5 day, based on an 8 hour working day (less taxes). Will this really make a difference for millions of Americans who are on minimum wage, already struggling with higher gas and food prices? The minimum wage adjustment is an almost 12% raise, but most of it will be eaten up by inflation which is officially running at close to 5% annually -- unofficially it is much higher with basic groceries up more than 20% in many states. Read More »

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