The first increase in the federal minimum wage since 1987 became effective on July 24, 2007. The federal minimum wage will gradually rise to $7.25 per hour in three annual increases. The first increase took effect on July 24 when the minimum wage jumped to $5.85 per hour. On July 24, 2008, the minimum wage will increase to $6.55 per hour and, on July 24, 2009, it will increase to $7.25 per hour.