Post by Logan on Jun 27, 2016 0:32:02 GMT -6
ST THOMAS, USVI -- Governor Kenneth Mapp announced on Tuesday to US Virgin Islands’ businesses and employers, and to the general public within the territory that Act No. 7856 amending the minimum wage for all hourly employees took effect on June 21, 2016.
According to the Fair Labor Standards Act, state governments have the right to set a higher minimum wage than the current federal minimum wage rate. To date, 29 states including California, Florida, New York and New Jersey have enacted legislation increasing their state’s minimum wage. Studies have shown that increasing of the minimum wage does not have a negative effect on small business, as some have claimed, and in fact contributes to an increase in the overall health of local economies.
On Tuesday, the minimum wage in the US Virgin Islands increased to $8.35 per hour for all hourly employees in the territory. Additionally, effective June 1, 2017, the minimum wage will increase to $9.50 per hour and on June 1, 2018 the rate is set to increase to an amount not less than $10.50 per hour.
Additionally, tourist service industry and restaurant workers who are tipped employees must be compensated at a rate of not less than 40% of the prevailing minimum wage.
Read more: www.caribbeannewsnow.com/topstory-USVI-governor-announces-minimum-wage-increase-30845.html
According to the Fair Labor Standards Act, state governments have the right to set a higher minimum wage than the current federal minimum wage rate. To date, 29 states including California, Florida, New York and New Jersey have enacted legislation increasing their state’s minimum wage. Studies have shown that increasing of the minimum wage does not have a negative effect on small business, as some have claimed, and in fact contributes to an increase in the overall health of local economies.
On Tuesday, the minimum wage in the US Virgin Islands increased to $8.35 per hour for all hourly employees in the territory. Additionally, effective June 1, 2017, the minimum wage will increase to $9.50 per hour and on June 1, 2018 the rate is set to increase to an amount not less than $10.50 per hour.
Additionally, tourist service industry and restaurant workers who are tipped employees must be compensated at a rate of not less than 40% of the prevailing minimum wage.
Read more: www.caribbeannewsnow.com/topstory-USVI-governor-announces-minimum-wage-increase-30845.html