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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: NOW who wrote (48921)3/30/2006 12:37:06 AM
From: mishedlo  Read Replies (1) of 116555
 
Michigan Boosts Minimum Wage
March 28, 2006, 10:01 AM
LANSING, MICHIGAN (AP) -- Michigan Governor Jennifer Granholm has signed legislation to boost the minimum wage for the first time in nine years. The legislation raises the minimum hourly rate to $6.95 in October.

Michigan's minimum wage stands at $5.15 an hour, the same as the federal minimum wage. Seventeen states and the District of Columbia have minimum wages higher than the federal minimum.

"Today is a celebration for working men and women across Michigan," Granholm said. "This is a simple matter of fairness – anyone who puts in a fair day’s work should receive a fair day’s pay. Increasing the minimum wage for the first time in nine years is a critical step to ensuring that every worker receives a fair day's pay."

In her 2006 State of the State Address, Granholm pledged that workers would get the pay increase this year one way or another. The Governor said she is pleased that the Republican-led Legislature responded to the overwhelming public reaction to efforts to place this issue on the November ballot and did the right thing by approving the increase. "The working men and women who circulated petitions and contacted their legislators should be proud that their efforts were instrumental in convincing legislative leadership to do the right thing," said Granholm.

At $5.15 an hour, a full-time year-round minimum wage worker earns $10,712 a year – $5,000 less than the federal poverty level for a family of three. The AFL-CIO says 40% of minimum wage workers are the sole breadwinners in their families, and a large number of these workers are women. The union says 43% of the workers who benefited from the last minimum wage increase were women.

The legislation calls for the minimum hourly rate to rise to $7.15 an hour in July 2007 and to $7.40 in July 2008.

Senate Bill 318 was sponsored by Senator Ray Basham (D-Taylor).

wtol.com
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