Minimum Wage Set For Positive Change This Year
Minimum wage: News of an increase in the employee minimum wage was announced at the beginning of the new year.
Workers in more than half of the states have been calling for higher pay for years, mainly because the federal minimum wage has stayed at $7.25 per hour since 2009.
Although a few states and cities have set their own rates, several are currently planning to increase the wage in 2023.
The News
This year, minimum wage increases were announced in 26 states. According to US payroll analysts at Wolters Kluwer Legal & Regulatory, one more state will join the revision in July.
The Economics Policy Institute stated that 23 states, including Washington, DC, would begin implementing the higher compensation on January 1. As a result, 8 million employees will be affected. There will be price increases ranging from 23 cents to $1.50.......Read More
Source: Market Daily