Federal Minimum Wage Increases

Many will be seeing more money on their next pay check.

2 million Americans are getting a raise Thursday as the federal minimum wage climbs to $6.55 an hour; that's a $0.70 jump.

Minimum wage in Kentucky has already made the increase to $6.55 and will go to $7.25 by next year.

This is good news for lots of workers who are finding it harder to make ends meet, but not everyone is enthusiastic. One analyst points out that the sectors most affected by the increase - restaurants and retailers - are the ones hit hardest by the weak economy and that could force more businesses to cut hours or initiate layoffs.

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