As many as 25 states are set to increase the minimum wage for 2024 as American citizens battle against inflation and tough economic times by seeking a greater baseline pay.
Millions of workers will be positively impacted by the decision, which will come into action on January 1, 2024, marking a good start to the year on that front except for Nevada and Oregon (July 1) and Florida (September 30).
Twenty states will remain at the minimum of $7.25 whilst California, New York and Washington will show peaks of $16 per hour.
The states that will see a minimum wage increase are: Alaska, Arizona, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Illinois, Maine, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, Nevada, New Jersey, New York, Ohio, Oregon, Rhode Island, South Dakota, Vermont, and Washington.
If you live in a city, be wary to check your city’s minimum wage as sometimes cities will raise their own minimum above the state minimum. For example, Denver will raise their own to $18.29 per hour, whilst Colorado’s is $14.42 per hour.
Is the minimum wage increase enough?
Since being introduced in 1997, the minimum wage his increased from $5.15 on September 1 to now sitting at a highest total of $16 in California.
That marks a $10.85 increase which is actually above the rate of inflation across the period. If the wage rose in-line with inflation then it would only be $9.85, suggesting that the government has been more generous than they needed to be.
However, 27 states are yet to declare a minimum wage sum above the rate of inflation, with Alaska, Columbia, Florida, Massachusetts, Nevada, Oregon and Virginia all yet to determine their 2024 amounts.
All states with a minimum wage of $7.25, interestingly, have not changed them since 2009, when the last federal update took place. They’re remaining at the very end of the pay scale.
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