Florida Minimum Wage to Increase to $7.21
Florida's minimum wage will increase to $7.21 per hour effective January 1, 2009, up from the $6.79 per hour minimum wage in 2008, according to this announcement from Florida's Agency for Workforce Innovation ("AWI").
In case you're wondering how the $7.21 figure is derived: On November 2, 2004, Florida voters approved a constitutional amendment which created Florida’s minimum wage. The minimum wage applies to all employees in the state who are covered by the federal minimum wage. Florida law requires AWI to calculate a new minimum wage each year based on the Consumer Price Index and publish the new minimum wage on January 1.
Florida employers should keep in mind that federal law requires that businesses pay the higher of either the Florida minimum wage or the federal minimum wage. The Florida minimum wage will be higher than the federal minimum wage until July 24, 2009, when the federal standard will increase to $7.25.
