Recently this series addressed Florida’s increasing minimum wage
Since that article, on November 22, 2021 the Wage and Hour Division of the U.S Department of Labor announce a final rule (Executive Order 14026) which, effective January 30, 2022, increases the minimum wage for certain federal contractors to $15 per hour.
As reported in the Department of Labor’s November 22, 2021 e-newsletter:
Executive Order 14026 implements new requirements, including:
- Increasing the hourly minimum wage for certain federal contractors to $15 beginning January 30, 2022.
- Continues to index the minimum wage to an inflation measure in future years.
- Eliminates the tipped minimum wage for federal contractors by 2024.
- Ensures a $15 minimum wage for workers with disabilities performing work on or in connection with covered contracts.
- Restores minimum wage protections to outfitters and guides operating on federal lands.
The final rule becomes effective January 30, 2022.
Please visit www.dol.gov/agencies/whd/government-contracts/eo14026 for full details on Executive Order 14026.
While the federal government’s wage activities do not directly impact all of Florida’s employers – except those which are federal contractors, of course – those increases can exert competitive pressure on all employers seeking to recruit and retain workers, and can serve as a ‘wave’ type force which works to increase the effective minimum wage throughout the economy.
To consult with an experienced business law lawyer today, call 855-780-9986
For more information, call Philip N. Kabler, Esq. of the Gainesville, FL office of Bogin, Munns & Munns, P.A. at (352) 332-7688, where he practices in the areas of business, real estate, banking, and equine law. He has taught business and real estate law courses at the University of Florida Warrington College of Business Administration and Levin College of Law. He is a member of the Greater Gainesville Chamber Board of Directors, and is the Immediate Past President of the Eighth Judicial Circuit Bar Association.
NOTICE: The article above is not intended to serve as legal, financial, or investment advice, and readers should not rely on it as such. It is offered only as general information. Readers should consult with an attorney regarding their legal matters, as every situation is unique.