The measure would increase the state minimum wage from the current $6.75 per hour to $7.25 per hour effective January 1, 2007 and $7.75 per hour effective January 1, 2008. In addition, the measure would require the state to adjust annually—beginning January 1, 2009—the minimum wage rate based on inflation. Specifically, the wage rate would be increased by 1.5 times the rate of inflation until the minimum wage rate reached an equivalent purchasing power as in 1968. After that, the annual adjustment would be equal to inflation. Currently, most categories of employees are subject to the state minimum wage provisions. However, self-employed workers and professional and managerial workers are generally exempt from state and federal minimum wage laws.