Tuesday, February 11, 2025
Advices

Minimum Wage Is Now Higher in 21 States—Is Yours One?

KEY TAKEAWAYS

  • Over 9.2 million minimum-wage workers saw their paychecks increase as 21 states raised their wage floors to adjust for inflation, ballot measures, and legislation.
  • Additionally, 48 cities and counties will raise the minimum wage higher than their current state’s.
  • One estimate found that workers in these states will earn $420 to $868 more per year.

Minimum-wage workers in 21 states entered the new year with an increased paycheck.

According to the nonpartisan think tank Economic Policy Institute (EPI), more than 9.2 million workers saw a raise in their minimum wage paychecks starting on Jan. 1. They will receive a total of $5.7 billion more pay in 2025.

Additionally, 48 cities and counties, mostly in California, Colorado, and Washington, will further increase the wage floor above their state’s minimum.

On average, full-time minimum wage workers in the affected states will earn from $420 to $868 more per year.

More than half of workers will receive raises in line with rising costs of living, as the majority of increases were through automatic annual inflation adjustments. Some states also implemented more significant minimum wage increases through ballot measures and legislation.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *