A new survey shows that
nearly 70 percent of small businesses nationwide say that they might have to raise
their prices because of the recent increase in the federal minimum wage. The
U.S. Chamber of Commerce survey also found that more than 20 percent of small
employers said they expect to scale back hiring plans as a result of the
increase. And, about one-third of small businesses reported experiencing other,
nonwage-related cost increases because of the new rate. The federal minimum
wage was boosted from $5.15 per hour to $5.85 per hour on July 24, 2007, and
will go up two more times by 2009. Employers that only have
employees aren’t directly affected by the change because
The HR Management & Compliance Report: How To Comply with California Wage & Hour Law, explains everything you need to know to stay in compliance with the state’s complex and ever-changing rules, laws, and regulations in this area. Coverage on bonuses, meal and rest breaks, overtime, alternative workweeks, final paychecks, and more.