Since July 24, 2009 the federal minimum wage has remained $7.25 (U.S. Department of Labor). However, if your New Year’s resolution is to make more money this year then we have some good news.
You can immediately cross that off your list!
According to Raisetheminimumwage.com, which displays the current and projected minimum wage increases [all the way up to the year 2018 as off the time of this post], residents who earn minimum wage in 15 states and the District of Columbia will enjoy an increase in pay this year.
So which States are Increasing their Minimum Wage?
| States | 2015 | 2016 | Difference |
|---|---|---|---|
| Alaska | $8.75 | $9.75 | +$1.00 |
| Arizona* | $8.05 | – | – |
| Arkansas | $7.50 | $8.00 | +$0.50 |
| California | $9.00 | $10.00 | +$1.00 |
| Colorado | $8.14 | $8.31 | +$0.17 |
| Connecticut | $9.15 | $9.60 | +$0.45 |
| Florida* | $8.05 | – | – |
| Hawaii | $7.75 | $8.50 | +$0.75 |
| Maryland | $8.25 | $8.75 | +$0.50 |
| Massachusetts | $9.00 | $10.00 | +$1.00 |
| Michigan | $8.15 | $8.50 | +$0.35 |
| Minnesota | $9.00 | $9.50 | +$0.50 |
| Missouri* | $7.65 | – | – |
| Montana* | $8.05 | – | – |
| Nebraska | $8.00 | $9.00 | +$1.00 |
| New Jersey* | $8.38 | – | – |
| New York | $8.75 | $9.00 | +$0.25 |
| Ohio* | $8.10 | – | – |
| Oregon* | $9.25 | – | – |
| Vermont | $9.15 | $9.60 | +$0.45 |
| Washington* | $9.47 | – | – |
| West Virginia | $8.00 | $8.75 | +$0.75 |
| District of Columbia | $10.50 | $11.50 | +$1.00 |
The 22 states listed above are reportedly giving their residents more money this year according to figures from raisetheminimumwage.com. To find out exactly when the wage increase will go into effect in your state simply visit your state’s official government website.
*These states are expected to annually increase their minimum wage to compensate for the cost-of-living based on consumer price index increases but may not actually do so or may do so at a later time in the year. For example, states such as Florida and Missouri have reported that they were going to maintain their same minimum wage requirements.
3 Simple Tips to Successfully Save Money! | Freedom Beyond Wealth™
[…] have at the start of the New Year. So how has that been going for you so far? In our last article, Happy New Years Minimum Wage Earners, we showed how many residents in various states were getting a wage increase this year and of […]