MINNEAPOLIS UPS MINIMUM WAGE TO $15

MINNEAPOLIS» The Minneapolis City Council voted overwhelmingly on Friday to raise the city’s minimum wage to $15 an hour over the next few years, joining other large U.S. cities that have increased basic wages.

The ordinance passed 11-1. For large businesses with 100 or more employees, the higher wage will be phased in over five years, starting with an increase to $10 an hour from the current state minimum of $9.50 on Jan. 1, 2018. The higher wage will be phased in for smaller businesses over seven years. The $15 minimum wage will be fully implemented citywide by July 2024.

Labor Department looks ato vertime rules.

The Labor Department says it wants salary level to count when it determines who is eligible for overtime pay. But it’s holding off setting the maximum pay a worker can get and still qualify. That’s according to a brief filed Friday in federal court in New Orleans in a case over whether the Obama administration had the right to double the threshold to around $47,000.

Energy commission down too ne.

The fivemember commission that oversees natural gas pipelines and other energy projects is down to a single commissioner as one of the panel’s two remaining members steps down. The departure of Democrat Colette Honorable from the Federal Energy Regulatory Commission hobbles the panel’s ability to make decisions on projects worth billions of dollars.

Consumer spending barely up.

Americans enjoyed a healthy increase in income last month but didn’t spend much of the gain. The Commerce Department says personal income rose 0.4 percent in May, but spending increased just 0.1 percent.

Rigs fall by 1.

The number of rigs exploring for oil and natural gas in the U.S. fell by one this week to 940, according to Houston oilfield services company Baker Hughes.

Among major producing states, Texas gained one rig. Alaska and Colorado each lost one.

Ivank awo rks fo rfr ee; others paid well.

More than 40 percent of White House staffers earn in excess of $100,000 a year. The White House released details about staff salaries on Friday. Among those forgoing a salary are Trump’s daughter Ivanka and her husband, Jared Kushner. The Associated Press