Minimum Wage Increases in 22 States on January 1, 2024

Compensation
Written By Alex Santos

Millions of Workers Will See Pay Raises

Expanded state minimum wages will ripple across the workforce. Raises will impact workers beyond minimum wage earners.

Source: https://www.instagram.com/p/C1IH6NavHgE/

Minimum wage increases aren't just good news for workers earning the lowest wages—they often have a ripple effect that benefits other workers as well. When the wage floor is raised, employers typically adjust pay scales upwards, resulting in raises for workers who make slightly more than the minimum wage as well.

13 States Index Minimum Wage to Inflation

In 13 states, minimum wage increases are tied to inflation. This means that wages automatically go up with the cost of living, helping to ensure that workers' paychecks maintain their purchasing power over time.

Push for $15 Minimum Wage Gains Momentum

More states are embracing a $15 minimum wage, a goal championed by the Fight for $15 movement for over a decade. New York, Maryland, and New Mexico are among the states that will reach this threshold on January 1, 2024.

Federal Minimum Wage Remains Unchanged Since 2009

While states are taking action to raise minimum wages, the federal minimum wage has remained stagnant at $7.25 per hour since 2009. This means that workers in states without their own minimum wage laws have not seen an increase in their base pay in over 15 years.

Q&A

Q: Which states are raising their minimum wage on January 1, 2024?

A: A total of 22 states will increase their minimum wage on January 1, 2024.

Q: Why are states raising their minimum wage?

A: States are raising their minimum wage to help workers keep up with the rising cost of living and to address wage inequality.

Q: What is the federal minimum wage?

A: The federal minimum wage is $7.25 per hour and has not been increased since 2009.

Alex Santos
As Managing Member of Collabor8 Learning, my role is to build and execute learning and development strategies for organizations seeking to improve the return they are getting from their training programs. We focus on four core areas: performance analysis, instructional design, e-learning development, and learning management. As a hybrid HR/instructional design consultancy, Collabor8 Learning partners with your team to leverage today's training technologies to increase the productivity of your people. I am a senior human resources and training executive with over 17 years of progressive experience. My work in private industry has focused heavily on the development of learning and development systems that transform employee performance from ordinary, to remarkable. I accomplish this by combining organizational development strategies and tactics to blended learning programs with line of sight alignment to clearly defined performance goals. Additionally, I launched Miami Payroll Center in conjunction with my brother and sister-in-law in 2004 to meet the payroll needs of small to mid-size organizations. Our consultative approach to guiding new entrepreneurs as well as more seasoned business owners in alleviating the pain of payroll processing has created a very successful and growing payroll processor in the market. Specialties: Instructional Systems Design, E-Learning, Learning Management Systems, Payroll, Organizational Development, Employee engagement, HR Strategic Planning, Talent Acquisition & Management, Leadership Development, Coaching & Mentoring, Employment Branding Proposition & Positioning, Workforce Planning, Performance Management, and Leadership Development.
https://www.bynimble.com
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