Come Monday, 9.9 million minimum-wage workers in the US are due a pay raise that, by one estimate, will add $6.9 billion to their compensation per year. Increases are going into effect in 22 states, NPR reports. The new minimums vary widely. California, New York, and Washington are hitting at least $16, while 20 states will hold to federal minimum, $7.25 an hour. Almost half of the 17.6 million people making less than $15 an hour live in those 20 states, according to the Economic Policy Institute. Florida, Nevada, and Oregon have increases kicking in later in 2024, per CBS News.
The federal minimum wage is another matter. Although inflation rates are up more than 40% in the period, that standard hasn't changed since 2009. That makes the state raises critical, an advocate said. "While the federal minimum wage falls further and further behind the cost of living at just $7.25 an hour, state increases are vital for workers, businesses and communities," said Holly Sklar of Business for a Fair Minimum Wage. Institute data show that close to 60% of workers receiving a pay increase are women. Overall, 9% are Black and about 38% Hispanic. More than one-fourth are parents. In addition, 38 cities and counties are enacting increases of their own. CBS lists those new minimums, as well as those of the states, here. (More minimum wage stories.)
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