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The federal minimum wage for non-exempt employees is $5.15 a hour. The Fair Labor Standard Act (FLSA) contains the federal wage provisions. Most of the states have their own minimum wage laws. Workers are subject to both federal and state minimum wage laws. In this case, companies are required to give the greater wage to their employees. If an employee does not get the minimum wage he's entitled to, then he can file a minimal wage claim to the Division of Labor Standards Enforcement (DLSE), or......Read More
As free-market economists I'm not much into minimum wage legislation, in fact I'm rather against them. However as I watch what's going on in China right now, with the protests and strikes from the labor at the overseas production firms which are in their own country, I see that something has to be done. In China you are not permitted to go on strike at a Chinese company, and even though there are problems, they are not publicized because the Chinese government doesn't want that in their......Read More
Cast your mind back to a year ago - and now I am sure we all remember a particular subset of "Home owners" ranting on about how far they'd made on their homes and the way renters were throwing money away. Those people were pleased to withdraw equity from their homes and invest it on vacations, 4x4s and the latest designer kitchen. This group were quite pleased to pocket the money and live the high life while costs went up. One year on - and also things have changed. Rates are no longer going up,......Read More
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