oboloo Glossary

Minimum Wage

oboloo Glossary

Minimum Wage

Minimum Wage Definition

The Minimum Wage Definition is the lowest hourly pay that an employer can legally pay their employees. The current Federal minimum wage is $7.25 per hour, although some states have their own minimum wage laws that are higher than the Federal rate. Some businesses may also pay workers a ‘living wage’ which is an hourly rate that is high enough to cover basic living expenses.

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