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A New Year, a New Minimum Wage

 

For the first time in four years the New Year will begin with 13 States implementing a minimum wage increases that are estimated to boost the incomes of 2.5 million under paid workers according to an analysis of Census data collected by the Economic Policy Institute.

 

Four of these states, Connecticut, New Jersey, New York, and Rhode Island – passed laws to raise the minimum wage earlier this year, while the remaining nine states, Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Vermont, and Washington – are adjusting their minimum wages in accordance with state laws requiring automatic annual increases to keep pace with the rising cost of living. California, which had also passed a law this year to raise its minimum wage, will proceed to raise its minimum wage in July.



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According to Huffington Post, The federal minimum wage is not linked to an index, but the Democrats in Congress, as well as President Barack Obama, have said that it should be. A growing list of states and cities is expected to approve minimum wage increases over the next year. Washington State will continue to have the highest state minimum wage in the nation, at $9.32 per hour. Legislators have introduced proposals in Massachusetts, New Hampshire, Delaware, Maryland, Minnesota, and Hawaii, while efforts to place minimum wage increases on the November 2014 ballot are underway in South Dakota, Alaska, New Mexico, Idaho, Arkansas, Massachusetts, and the District of Columbia. Happy New Year!

 

Image Credit: www.ktsf.com

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Jaan Posted by on December 24, 2013. Filed under Business News,Home. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.