Washington will have highest state minimum wage in 2023

Washington's minimum wage is poised to be the highest of any state in the country next year.

Driving the news: The state Department of Labor and Industries announced Friday that the minimum wage will increase by $1.25 in January 2023, to $15.74 an hour.

By the numbers: No other state is on track to have a higher minimum wage than Washington, an Axios analysis found.

• Only Washington, D.C. — with a minimum wage of $16.10 per hour — will be higher, based on an examination of wage policies in every state.
• Washington's minimum wage will even top California's, which is slated to rise to $15.50 next year.

The big picture: Washington has earned itself a reputation as a state that's good for workers.

Context: This year's increase in Washington — 8.66% — is because of inflation, state officials said.

• Under Initiative 1433, which Washington voters approved in 2016, the state Department of Labor and Industries must adjust the minimum wage every year based on changes to the Consumer Price Index.
• Consumer prices increased 9% in the Seattle area in the past year, exceeding the national inflation rate of 8.3%, according to the Bureau of Labor Statistics.

What's next: Washington's new minimum wage of $15.74 per hour will take effect on Jan. 1.

Of note: Seattle already has a higher minimum wage ($17.27 per hour), as does SeaTac ($17.54 per hour).