The Economic Policy Institute released an Economic Snapshot regarding the new minimum wage:

On July 24, 2009, the federal minimum wage will increase to $7.25 per hour. This is the final step of a three-step increase passed in 2007 when the minimum wage was only $5.15. In this last step, about 4.5 million workers will receive a raise, providing an additional $1.6 billion annually in increased wages. However, when adjusted for inflation, the new federal minimum is still less than the minimum wage through most of the period from 1961 to 1981.

What states will be affected: • There are 31 states that will be affected by the minimum wage increase to $7.25 on July 24, 2009:

Alabama, Alaska, Arkansas, Delaware, Florida, Georgia, Idaho, Indiana, Kansas, Louisiana, Maryland, Minnesota, Mississippi, Missouri, Montana, Nebraska, New Jersey, New York, North Carolina, North Dakota, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, and Wyoming

• Nineteen states and the District of Columbia will not be affected by this increase. Of these, there are six states that already have a minimum of $7.25 (as of July 24, 2009):

Arizona, Hawaii, Iowa, Kentucky, Maine (increases to $7.50 in October), and New Hampshire

• The other 13 states and the District of Columbia have a minimum wage above $7.25:

California, Colorado, Connecticut, District of Columbia, Illinois, Massachusetts, Michigan, Nevada, New Mexico, Ohio, Oregon, Rhode Island, Vermont, Washington. (DC has legislation that sets the minimum wage to be at least $1 more than the federal minimum.)