In the Money

May 28, 2007

Reported by: Associated Press

About 305,000 Louisiana workers will get a pay raise by the time the federal minimum wage increases to $7.15 per hour in two years.

That's according to the Washington-based Economic Policy Institute.

The change increases the current $5.15 per hour minimum wage in three, 70-cent increments, beginning this summer.

The number of workers affected in Louisiana by the increase is down from the 366,000 projected in 2005. That's because the post-hurricane worker shortage has prompted employers to increase wages, especially in the service sector.

The 305,000 workers represent those who make less than $7.15 an hour and will be guaranteed a wage increase by the time the new minimum wage is in full force in 2009.