Post by y4j1981 on Dec 18, 2023 13:01:37 GMT -5
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The minimum wage is going up in 22 states on Jan. 1
Why it matters: For Americans making minimum wage, it's an automatic raise — but it also ripples out. Typically, increasing the wage floor for the lowest earners pushes up pay for those who make a bit more than the minimum, as employers have to adjust pay scales upwards.
The big picture: More states are requiring a $15 an hour minimum wage — including New York, Maryland, and New Mexico — a dozen years after Fight for $15 kicked off its campaign.
Thanks to inflation, the dollar amount doesn't quite mean what it used to.
Zoom in: In 13 states wages are going up because they're indexed to inflation, including California, Ohio and South Dakota.
Three more states and Washington, D.C., are set to raise the wage later in the year.
The last time the federal minimum wage ($7.25) was increased was in 2009.
Why it matters: For Americans making minimum wage, it's an automatic raise — but it also ripples out. Typically, increasing the wage floor for the lowest earners pushes up pay for those who make a bit more than the minimum, as employers have to adjust pay scales upwards.
The big picture: More states are requiring a $15 an hour minimum wage — including New York, Maryland, and New Mexico — a dozen years after Fight for $15 kicked off its campaign.
Thanks to inflation, the dollar amount doesn't quite mean what it used to.
Zoom in: In 13 states wages are going up because they're indexed to inflation, including California, Ohio and South Dakota.
Three more states and Washington, D.C., are set to raise the wage later in the year.
The last time the federal minimum wage ($7.25) was increased was in 2009.
