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These States Raising Minimum Wage

by Market FinancePosted onDecember 27, 2022December 27, 2022

Here’s whats happening…

Thanks to inflation brought on by Joe Biden’s presidency, a number of states are now increasing their minimum wage for the 2023 year.

According to The Hill, the current federal minimum wage sits at $7.25 per hour and hasn’t changed since 2009.

Now 27 states are expected to raise their minimum wage to account for Biden’s inflation often referred to as Bidenflation.

California will increase their minimum wage to a whopping $15.50. Washington, D.C. currently has a minimum wage of $16.10 and is expected to increase in July as well however it is unknown by how much.

Nevada will increase their minimum wage to $10.25 for employers who provide health insurance and $11.25 for employers who don’t.

Additionally, here are the states that will increase their minimum wage by at least one dollar or more:

  • Arizona ($12.80 to $13.85)
  • Colorado ($12.56 to $13.65)
  • Connecticut ($14 to $15)
  • Delaware ($10.50 to $11.75)
  • Florida ($10 to $12)
  • Illinois ($12 to $13)
  • Maine ($12.75 to $13.80)
  • Nebraska ($9 to $10.50)
  • New Jersey ($13 to $14)
  • New York ($13.20 to $14.20)
  • Virginia ($11 to $12)

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Published by Market Finance

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