Home | Business News | Browse by Publication | M | Mississippi Business Journal

Minimum wage hike affects small numbers in Mississippi.

Publication: Mississippi Business Journal
Publication Date: 20-AUG-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Although some Mississippians are earning more money as a result of last month's increase in the federal minimum wage, that number is not large.

According to Marianne Hill, senior economist with the Institutions of Higher Learning, only 2.6% or 17,000 workers (out of a total of 658,000 hourly workers) in the state were paid at or below the minimum wage in 2004. The new federal minimum wage went to $5.85 per hour in July with future increases of $6.55 in the summer of 2008 and $7.25 in the summer of 2009.

Hill points out that the purchasing power of the minimum wage is approximately 20% lower than it was in 1998 and the lowest since 1960. "With the purchasing power going down, people making minimum wage are not keeping up," she says. "The rationale behind the minimum wage is that it's not...

Access Full Article, Compliments of Goliath

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Mississippi Business Journal
Late-summer sod sales plummet., September 03, 2007
SBA taking nominations., September 03, 2007
Realtors across country funding Coast rental property repairs.(Focus: ..., September 03, 2007
IRS warns of new e-mail scam offering cash for participation in 'Membe..., September 03, 2007
At issue: subprime mortgage failure or Wall Street meltdown?(Focus: Re..., September 03, 2007

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.