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Friday, July 24, 2009

Minimum wage rises to $7.25 per hour

New York's minimum wage was boosted on Friday to keep pace with a nationwide increase.

The state and national rates both are now $7.25 per hour.

New York's minimum wage had been $7.15 per hour, putting it ahead of the previous national rate, $6.65. But the third federal increase in three years took effect on Friday, boosting the national minimum wage to $7.25. State law mandates an automatic increase if the federal rate surpasses the state minimum wage.

The national increase is expected to affect 3 million to 5 million workers