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Published: Thursday, 7/24/2008

Federal minimum wage rises today

ASSOCIATED PRESS

WASHINGTON - About 2 million Americans get a raise today as the federal minimum wage rises 70 cents.

The increase, to $6.55 and hour from $5.85, is the second of three annual increases required by a 2007 law. Next year's boost will bring the federal minimum to $7.25 an hour.

The new minimum is less than the inflation-adjusted 1997 level of $7.02, and far below the inflation-adjusted level of $10.06 from 40 years ago, according to a Labor Department inflation calculator.

Twenty-three states, including Ohio, and the District of Columbia have laws making their minimum wage higher than the new federal requirement.



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