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What is the federal minimum wage as of now?

  1. $6.00/hr

  2. $7.25/hr

  3. $8.00/hr

  4. $9.00/hr

The correct answer is: $7.25/hr

The federal minimum wage, which has been in effect since July 24, 2009, is set at $7.25 per hour. This figure is significant as it establishes the baseline compensation that employers must adhere to for hourly workers across the United States. Various states and localities may impose their own minimum wage laws that exceed this federal standard, but the federal minimum serves as the minimum requirement for employers who do not operate under higher state regulations. Understanding this figure is crucial for contractors to ensure compliance with labor laws and to avoid potential legal repercussions for underpayment of employees.