Minimum wage is currently on the rise in nearly half of the United States.
In 2024, the minimum wage has already increased across 22 states, including Alaska, California, New York and Vermont, according to ABC 7 Buffalo. The year will also see Florida, Nevada and Oregon increase their minimum wages in the second half of the year, with Florida facing the largest rise from $1 to $13.
However, this isn’t the only changes to minimum wage in the new year. On the individual city front, New York City raised its own minimum wage from $15 to $16, according to PBS.
Previously, 21 states and 41 cities and countries were preparing to increase their minimum wage rates in 2023, according to a report given exclusively to USA Today by the National Employment Law Project (NELP). $15 dollars an hour became the base pay in Massachusetts and Washington, aligning them with California and most of New York City. However, workers outside of New York City, Long Island and Westchester County saw n increase by $1 per hour, which made the pay increase from $13.20 to $14.20, as of Dec. 31, 2022.
The National Employment Law Project also reported at the time that minimum wage was projected to rise throughout 2023, ultimately leading to a record 86 jurisdiction of 27 states and 59 cities and countries boosting their base pay. Minimum wage for home care aides, which took effect in October 2022, also went up to $16.20 an hour in counties outside of New York City.
Virginia was one of the 25 states that saw an increase in minimum wage in 2023. Effective Jan. 1, 2023, the states’ rate increased from $11 to $12 per hour. Moving forward, any additional increases will need to be approved by lawmakers.
Although inflation was high in 2022, Americans were feeling hopeful about the economy during 2023. Consumers were more upbeat about business and labor market conditions with the Conference Board index that measured those sentiments, increasing to 147.2 in December 2022 as compared to 138.3 in November 2022.
