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25 U.S. States Are Raising Minimum Wages in 2024. Here’s What It Means for Your State

December 19, 2023
in Business
25 U.S. States Are Raising Minimum Wages in 2024. Here’s What It Means for Your State
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Millions of workers across the country are getting a boost in 2024.

Next year, 25 U.S. states and the District of Columbia are planning to mandate a minimum wage increase, while 20 states will remain at the federal minimum wage of $7.25 an hour, which hasn’t been increased since 2009.

In 22 states, the new minimum wages will go into effect on January 1, with Nevada and Oregon’s new rates starting July 1. Florida’s minimum wage will increase on September 30, per CBS.

RELATED: Bank of America Is Raising Its Minimum Wage — Up 53% Since 2017. Here’s What Full-Time Salaries Will Look Like.

Nevada’s minimum wage is expected to increase to $11 to $12 an hour, while Oregon’s wage will range from $13.20 to $15.45. Florida’s wage will increase to $12 to $13 an hour.

In California, New York, and Washington state, the increase will boost baseline pay to at least $16 an hour.

California will also raise the minimum wage pay for food workers to $20 an hour and $25 an hour for healthcare workers.

Seven states and D.C. will have a minimum wage above $15 an hour in 2024.

Hawaii is expected to see the biggest increase from $12 to $14 an hour as the state works to increase wages to $18 an hour by 2028.

RELATED: U.S. Workers Want an $80,000 Minimum Salary as Expectations Rise — Here’s What It Means for the Labor Market, According to an Expert

Apart from Hawaii, here are seven other dates that will increase the minimum wage by a dollar in 2024:

Maryland: $13.25 to $15Delaware: $11.75 to $13.25Nebraska: $10.50 to $12Florida: $12 to $13Illinois: $13 to $14New Jersey: $14.13 to $15.13Rhode Island: $14.13 to $15.13

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Entrepreneur.com – https://www.entrepreneur.com/business-news/what-is-the-minimum-wage-25-states-to-raise-pay-in-2024/467227

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