minimum wage

6 Minimum Wage Increases You Will See in 2018

 

minimum wageMinimum Wage he lowest wage permitted by law or by a special agreement.

Since 2009, the federal minimum wage has held steady at 7.25 an hour. With the cost of living steadily increasing, individual states and cities have enacted higher local minimum wage laws and ordinances. Some policymakers agree that minimum wage laws are the key to ensure that low-income earners are able to sustain the cost of living in today’s economy. Other Policymakers are keen to the fact that increasing labor costs could result in lower employment rates. Despite a difference of opinions, there are 6 major minimum wage increases that will begin in 2018.

1. New York

There will be six different hourly minimum wages in the state of New York: one for fast-food workers in New York City, and one for fast-food workers in the rest of the state $10.75; one for other workers in the city who have at least 10 co-workers, and one for those in smaller workplaces; one for non-fast-food workers in Nassau, Suffolk and Westchester Counties, and one for that group in the rest of the state.

NY minimum wage

New York State Governor Andrew Cuomo has portrayed his goal of eventually having a statewide minimum wage of 15 dollars an hour. However, with many different components that make up the minimum wage in NY, the road to that goal will be bumpy, and nobody knows when or if this statewide minimum will actually come forth into play. Although projections show that it may certainly happen within the next few years.

2.California

California has more local minimum wage laws than any other state. Come 2018, California has made two amendments to its statewide minimum wage laws. One, planned statewide minimum wage increases; and two, an allowance for paid sick time for in-home support services workers. Wage increases based on the size of the employer. Small employers are those who have 25 or fewer employees, while large employers have more than 25 employees. On Jan. 1, the minimum wage for employees of large employers increases from $10.50 to $11.00. Small employers must pay their employees a minimum of $10.50.

california minimum wage

The majority of Californias minimum wage laws are set at local levels of government.

3. Colorado

Minimum wage in the Centennial State raises on January 1st. Currently, the minimum wage is set at $9.30. It will increase $0.90 to $10.20. It took an amendment to the state constitution to implement the changes, with 2018’s rise being the first of three annual $0.90 per hour increases to take effect through 2020, at which point it will reach the $12 mark.

4.Washington D.C

Workers in the nation’s capital will see their minimum wage rise again as of July 1. The $0.75 increase is part of a series of planned boosts that will culminate in D.C. wages hitting $15 per hour in mid-2020.

5.Maine

Maine residents voted in late 2016 to implement a multi-year rise in the minimum wage. The hourly amount climbed to $9 in 2017, and future moves will take the wage to $11 in 2019 and $12 in 2020.

6. Hawaii and Maryland

Both Hawaii and Maryland will see their minimum wages rise to $10.10 per hour in 2018. For both states, the move is the last stage of a hike passed in 2014, when the wage was $7.25. Wages have risen incrementally each year in Hawaii and Maryland during that time, finally reaching their target. The higher rate comes into effect on Jan. 1 in Hawaii, but not until July 1 in Maryland.

minimum wage
There are 18 states that will see wage increases starting January 1, based on annual indexed adjustments.

Some of these states include Alaska, Florida, Minnesota, Missouri, Montana, New Jersey, Ohio, and South Dakota. Several other states will increase minimum wage later on in 2018.

Advocates of minimum wage increases say they support the poorest and neediest members of the workforce. Those in opposition to wage increases say that the poor, working class is hurt more than it benefits because of job losses: Many of the lowest paying jobs are at risk of becoming automated when employers are required to pay human workers more money, but the degree to which consequences will be felt is unknown.

 

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