If a person makes 13.25 an hour. And works a 40 hour work week, what is their yearly income?
Not Financial Advice: An hourly rate of $13.25 equates to a weekly pay of $530, monthly pay of $2,297.67, and an annual salary of $27,560.
You can use this online tool calculator to compute your yearly, monthly, 4-weekly, 2-weekly, weekly and daily from The Salary Calculator.
Effective July 24, 2009, the federal minimum wage for covered nonexempt employees is $7.25 per hour. The federal minimum wage provisions are contained in the FLSA (Fair Labor Standards Act). Many states also have minimum wage laws, in circumstances where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.
The FLSA does not provide collection procedures or wage payment for an employee's usual or promised wages or commissions in excess of those required by the FLSA. But, some states do have laws under which such claims may be filed. The Department of Labor’s Wage and Hour Division administers and enforces the federal minimum wage law.
In buzz, average hourly wages rose a solid 0.3% in March to $24.86, but how much U.S. workers get paid hasn't shown much change despite strong gains in hiring over the past year. The increase in wages in the past 12 months was 2.1%. Year-over-year increases have stuck to a tight range of 1.9% to 2.2% for the past three years. Read more at Marketwatch.com.
The U.S. has been setting a floor for worker pay ever since President Franklin Roosevelt signed the Fair Labor Standards Act in 1938 and established a minimum wage of 25 cents an hour. Today, federal law requires most workers to be paid at least $7.25 per hour, a threshold that hasn't been raised since 2009. But 29 states and the District of Columbia have enacted higher minimum wages. See where the lowest-paid workers earn the most at Bankrate.com.