Minimum wage definition and meaning
Minimum wage is the lowest wage an employer can pay an eligible employee to work and set by the federal government. Local and state municipalities may determine their own minimum wage rates, but they must be above the federal rate to take effect.
More about minimum wages
While there is a federal minimum wage, many states also have their own minimum wage requirements. Some counties and cities even have their own minimum rates for employers to keep tabs on. Periodically, the federal government reassesses the minimum wage, to make sure it appropriately covers an appropriate standard of living to and protect the health and well-being of employees.
As of January 2022, the US national minimum wage is $7.25 per hour.
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