What is the federal minimum wage?

The federal minimum wage is the lowest wage that employers are legally allowed to pay their employees. According to the Fair Labor Standards Act (FLSA), the current federal minimum wage in the United States is $7.25 per hour. In Colorado, the minimum wage is set at $10.20 per hour, which is significantly higher than the federal minimum wage. In addition, if an employee works for an employer that is subject to the minimum wage provisions of the FLSA, then their employer must pay them no less than the higher applicable minimum wage. This means that employers in Colorado must pay their employees at least $10.20 per hour. In addition, Colorado employers must also pay their employees overtime for any hours worked over 40 in a week. The overtime rate is 1.5 times the regular hourly rate of pay, which, in Colorado, would translate to $15.30 per hour for any overtime hours worked. This rate is higher than the federal overtime rate. Overall, the federal minimum wage is the lowest wage employers are allowed to legally pay their employees; however, the minimum wage is higher in some states, such as Colorado. Therefore, it is important for employers to be aware of the applicable minimum wage in their state so they can properly compensate their employees.

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What is the federal minimum wage?

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