8/3/2023 0 Comments Federal minimum wage increaseCompanies, such as Amazon, Target and Walmart, have also stepped up and established higher minimum pay rates for employees. Meanwhile, some states and localities have taken up the issue, with Florida and Delaware moving to a $15 per hour minimum wage. Sanders also called on the government to increase the federal minimum wage from 7.25 an hour to 15 an hour, a move Democrats have recently tried to accomplish through the reintroduction of the. Raising the federal minimum wage to 15 an hour by 2025 would raise wages of up to 27.3 million workers and lift 1.3 million families out of poverty. "Right now, it seems somewhat stalled," said Pamela Loprest, senior fellow at the Income and Benefits Policy Center at the Urban Institute, of the push to raise the federal minimum wage. More from Personal Finance: White House plans sweeping changes to student loan system The job market is still 'red hot' despite recession fears 5 steps to take now to prepare your finances for a recessionīut efforts to raise the federal pay rate more broadly were deemed ineligible for inclusion in budget reconciliation legislation last year. In January, an executive order he signed that raised the minimum wage to $15 per hour for federal workers and contractors went into effect. President Joe Biden has advocated for raising the federal minimum wage to $15 per hour for all workers. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower This measure also follows Biden’s executive order issued in April requiring federal contract workers’ hourly minimum wage to be increased to $15 in early 2022.Best Debt Consolidation Loans for Bad Credit “Increasing pay rates to at least $15 per hour will keep the federal government competitive in the marketplace and is another way that we can serve as a model employer, setting a high bar for other sectors to follow,” Ahuja said Friday. The US Postal Service and the Postal Regulatory Commission are not included in the $15 minimum wage policy since they are outside OPM’s authority, OPM noted.įriday’s announcement further highlighted how federal workers in a variety of roles across the country will benefit from this new minimum wage policy, including about 130 wildland firefighters, 400 plant protection technicians, 3,800 custodial workers and roughly 50,000 Defense Department employees at military bases around the US, among others. Most of the federal employees paid below $15 hourly are currently employed by the Departments of Agriculture, Defense and Veterans Affairs, per OPM. Friday’s announcement is reflective of those recommendations, the office noted. Majorities across income groups those with lower and higher household. In response, OPM established an interagency working group to develop those recommendations, which then issued a report to the White House, OPM said. The current federal minimum wage is 7.25 per hour and 7 in 10 Americans think that it should be higher than that. This comes after President Joe Biden, within days of taking office, directed OPM to issue a report with recommendations for promoting a $15 per hour minimum wage for federal employees. The salary changes “must be effective beginning on the first day of the first applicable pay period commencing on or after January 30, 2022,” the OPM memo states. Raising pay rates across the federal government to a minimum of $15 per hour reflects our appreciation for the federal workforce and our values as a nation.” “The Biden-Harris Administration believes that the federal workforce should be treated with dignity and respect. “As the largest employer in the country, how the federal government treats its workforce has real impact,” said Ahuja in a statement. This decision follows discussions from earlier this month. An estimated 67,000 employees across the 2.2 million federal civilian workforce will be affected by the policy changes, OPM said. On January 26, the House and Senate Democrats introduced legislation to raise the federal minimum wage from 7.25 to 15 by 2025. The federal minimum wage of 7.25 per hour has not changed in nearly 14 years. OPM Director Kiran Ahuja in a new memo provided guidance to agency leaders for adjusting pay rates to at least a $15 hourly rate for federal employees stationed in the United States. Bernie Sanders speaks on raising the federal minimum wage outside the U.S. The Biden administration will start paying federal civilian employees a $15 hourly minimum wage by the end of the month, the Office of Personnel Management announced Friday, raising the pay for thousands of workers across the federal government.
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