(Money)
A new year means a new paycheck for millions of Americans.
There has been a minimum wage increase in 20 states as of 2019, raising pay for more than 5 million workers. The minimum wage also increased in 24 cities as well as the District of Columbia, and other states like Oregon will see minimum wage increases throughout the year. The boosts vary in size — from as small as a 5¢ bump in Alaska to a $2 increase in New York City — and will hike annual pay for impacted employees by $90 to $1,300, according to the Economic Policy Institute, a think tank that focuses on low- and middle-income Americans.
Still, the minimum wage looks quite different from state to state. For example, the 2019 Florida minimum wage is $8.46, while the state minimum wage for Arizona is $11 in 2019. More than half of U.S. states have increased minimum wages on the state level through legislative efforts, ballot measures, and inflation adjustments in recent years. Twenty-one states use federal minimum wage standards to determine compensation for relevant employees. Read more
Comments