Current Minimum Wage for Jobs In Richmond VA
Current Minimum Wage for Jobs In The State Of Virginia And Across The United States
One of the most effective and useful labor protecting steps taken by the US department for labor laws is the introduction of the minimum wage laws. As per the law, there has to be a minimum basic pay per hour, given to a person. This helps to ensure that labor exploitation is not being done in states where this is implemented and moreover people can earn sufficient enough to feed themselves and their families.
In case you are looking for jobs in Richmond VA, it is important that you are aware of the minimum wage concepts, current minimum wage for your job as well as the facts and figures associated with it. It will keep you protected as a worker and at the same time you’ll get a fair idea of how much to expect or negotiate for in a job interview.
The minimum wage introduction in the state of Virginia goes back to the 1970s. It was in 1976 that a minimum per hour wage of $2.00 was introduced in the state. Ever since there has been a rise in the amount in order to keep up with the growing economy and the inflation factor. It was within a period of 5 years that the minimum wage jumped more than 30% to $2.65 per hour in 1981. This rate in Virginia remained constant for the next 10 years up to 1991. The next change occurred in 1992 when the rate jumped to $3.65 per hour. After this the rate has been on a climb and by 1998 the rate was at $5.15. Such increase in the minimum wage obviously made it favorable for people who had jobs in Richmond VA. However for the next 8 years up to 2007, the rate was at a constant.
This was the approximate time when recession started creeping in the markets and there was a lot of chaos regarding job losses. But keeping up with the inflation and each passing year there has been a constant rise in the minimum wage in the state. In the last 3 years there has been a near 40% increase in the minimum wage for jobs in Richmond VA. As of today, it starts at $7.25 per hour. The state as such does not have its own minimum payment law and therefore it adopts the minimum wage that is applied by the federal government.
The rates are applicable to companies that have 4 or more employees. Also if an employee works overtime, the amount that the employer has to pay is one and half times the regular rate. As per this rate, the current minimum wage for overtime is $10.875 per hour for jobs in Richmond VA.
With greater opportunities and a minimum wage established, you can be sure that when you find a good job in Virginia, you’ll get a decent pay and there are very less chances of your employer exploiting you. Considering the fact that there are states that have no minimum wage law applied, you can be happy that Virginia offers a reasonable amount of protection to the people working there.
Looking at all the facts and figures that have been mentioned in the above article, it can be said that while there are a lot of opportunities that are coming up in the state as it recovers from recession. You as a professional also get a good chance to make a reasonably good earning and get your personal finances back on track. Also since the state follows the minimum wage set by the federal government, you can be sure that you’ll not be on the wrong side of things when it comes to the salary and wages.