Jan 6, 2022 - Business
Minimum wage increases in record number of states
Add Axios as your preferred source to
see more of our stories on Google.
Florida is among a record number of states and cities increasing their minimum wage in 2022, with many exceeding $15 an hour, according to a new report.
Driving the news: The National Employment Law Project found that 25 states and 56 municipalities will raise their minimum wages by the end of 2022.
- Florida voters approved a mandate to make minimum wage $15 an hour by 2026. It increased to $10 an hour in late September and will increase by a dollar every September until 2026.
The big picture: Companies are experiencing a labor shortage with workers quitting in large numbers, citing low pay as one of the major culprits. Others have engaged in strikes or other forms of worker-led activism, writes Axios' Oriana Gonzalez.
- Demands for a higher minimum wage increased with the COVID-19 pandemic.
- "Low pay, a lack of job security, and poor working conditions are endemic to service and other frontline jobs, with disproportionate effects on Black women, Latinas, and Asian Americans of any gender," NELP writes in the report.