What state is raising minimum wage to $15?

11/29/2020 Off By admin

What state is raising minimum wage to $15?

Other states that have already enacted phase-ins of a $15 minimum wage include California, Connecticut, Florida, Massachusetts, New Jersey, Illinois, Maryland, and Rhode Island. Virginia may also raise its scheduled wage of $12 in 2024 to $15 by 2026 if re-approved by the General Assembly.

Is Washington minimum wage going up 2022?

October 13, 2021 The Department of Labor & Industries announced that Washington State’s minimum wage will increase to $14.49 on January 1, 2022. The minimum wage increase also impacts the state’s overtime pay threshold for “white collar” positions held by executive, administrative, and professional employees.

What is the minimum wage in USA?

$7.25 per hour
The federal minimum wage for covered nonexempt employees is $7.25 per hour. Many states also have minimum wage laws. In cases where an employee is subject to both the state and federal minimum wage laws, the employee is entitled to the higher of the two minimum wages.

Why increase the minimum wage?

The most common reason for raising wages is an increase to the minimum wage. The federal and state governments have the power to increase the minimum wage. Consumer goods companies are also known for making incremental wage increases for their workers. These minimum wage increases are a leading factor for wage push inflation.

What are the benefits of raising minimum wage?

A potential benefit of increasing the minimum wage is that it boosts the income of low-income workers who earn an hourly wage at or below the minimum and helps them make ends meet. In addition, consumers who have more income will tend to spend more which can helps drive economic growth.

What will raising the minimum wage do?

Raising the minimum wage on a regular basis helps families keep up with price inflation. Putting more money in the hands of people who will readily spend it helps the economy. Increased wages and spending raise demand and create more jobs.

What is the minimum wage in Washington?

The minimum wage has increased each year in Washington starting in 2017, after voters approved Initiative 1433 in 2016, requiring “a statewide minimum wage of $11.00 in 2017, $11.50 in 2018, $12.00 in 2019 and $13.50 in 2020,” according to the department.