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Two Important Trends to Watch: Minimum Wage and Equal Pay

Published: Wednesday, July 22, 2015   /   Categories: Education

Two of the clearest trends affecting business owners and employees this year are the recent increases in minimum wages, along with the laws surrounding equal pay.  As a small business owner, you are responsible for keeping track of changes in labor law, including minimum wage, which can be difficult when mandatory rates fluctuate.  Even though government agencies don’t notify businesses when changes occur, you are still responsible for displaying the most current labor laws at your office. 

Minimum wage increases

In the last few months, a high number of minimum wage changes have been announced, and more states are likely to follow suit.  Here’s a quick summary:

  • Nineteen states had minimum wage changes on January 1, 2015, and released a mandatory labor law poster change.  Nebraska is one of these states.
  • Fifteen states have further minimum wage changes.
  • Nine states changed their minimum wage based on Consumer Price Index (CPI) data, and mandatory poster changes could come based on these changes.

Equal Pay

New laws passed recently at the federal, state, and local levels have added further
obligations for employers to comply with anti-discrimination laws or be subject
to a lawsuit, civil fine, or penalty.

As an employer, you need to monitor regulations regarding equal pay for employees.  The U.S. Equal Employment Opportunity Commission (EEOC) recently released its numbers for last year, which include detailed breakdowns of the charges of workplace discrimination received by the agency.  Those numbers included 938 charges under the Equal Pay Act.  (Note that sex-based wage discrimination can be charged under the sex discrimination provision of the Equal Pay Act.)

More labor  law compliance information

For tips on staying informed about labor law regulations, you can visit the Quickbooks
site. (http://payroll.intuit.com/support/kb/2001228.html).

 

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Kearney Area Chamber of Commerce
Kearney Area Chamber of Commerce

1007 2nd Ave  •  PO Box 607  •  Kearney, NE 68848
Phone: 308-237-3101