Beginning on New Years day 2024, workers in 22 states across the nation will be receiving an increase in their minimum wage. The increase will be the result of legislation that has been passed in those states providing for minimum wage hikes. Some states are also trying to keep up with inflation. In September, the Washington State Department of Labor and Industries announced rates will rise from $15.74 to $16.28 an hour. That’s a 3.4% increase year to year.
The state with the highest minimum wage increase is Washington, where the rate is set to rise to $16.28. Other states with significant increases include Delaware with $13.25, Arizona with $12.85, and Florida with $12.00. The state with the biggest jump in its minimum wage next year will be Hawaii, which will increase pay by $2 an hour. The remaining states are set to raise their minimum wages to between $9.50 and $11.75.
There are two main reasons for the higher hourly rates. In many states, wages are rising because of scheduled increases or because lawmakers are trying to combat inflation. Starting January 1, seven states and Washington, D.C. will set minimum wages at $15 or more. This is in line with the Fight for $15 movement that seeks to raise the national minimum wage to $15.
This is the highest rate ever seen in the United States since the federal minimum wage was first established in 1938. Still, 20 states are using the federal minimum wage of $7.25 which has not changed since 2009. The increases will benefit an estimated 4.5 million workers across the nation. Advocates are hopeful that the higher wages will help lift many families out of poverty and provide economic security to those living on the margins.
However, some are concerned that the increases may not be enough to keep up with the rising cost of living. While the higher wages will be a welcome relief for many, the increases may not be enough to offset the increasing cost of basic necessities such as food, housing, and transportation. As the new year approaches, workers in the affected states will be eagerly awaiting the new higher wages. In Seattle, the city’s minimum wage will increase to $19.97 an hour, which is up more than 6.8% from 2023. For many, the increase will provide much needed financial relief and an opportunity to make ends meet.