It's official—Gov. signs minimum wage law. The minimum wage will increase to $7.50 on January 1, 2007, and to $8.00 on January 1, 2008. That means your "exempt" employees must be earning $31,200.00 per year on January 1, 2007, and $33,280.00 on January 1, 2008.
Apparently, however, the fight over the minimum wage is not over. (Spanish - La Opinion) Speaker Nunez wants to see a $12 /hr. "living wage" and there is still strong support for inflation-indexed increases. Interesting statistic: 53% of minimum wage earners are Latino, and 1 in 8 Latinos earns the minimum wage. Those statistics alone should mean that this will be an ongoing issue.