A handful of states have already announced increases in their minimum wage rates. The bumps range between 28 to 37 cents. Several other states are expected to follow suit soon.
Every year, 10 states are required by law to adjust their minimum wage rates to keep pace with inflation: Arizona, Colorado, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington.
So far, five of those states have announced their 2012 minimum wage increases:
Washington’s wage of $9.04 is the highest in the country, and its 37-cent boost amounts to a $770 raise for those earning the state minimum.
The federal minimum wage stands at $7.25, or just over $15,000 for those full-time workers earning it. Overall, 18 states, plus the District of Columbia, have minimum wage rates higher than the federal rate.
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Every year, 10 states are required by law to adjust their minimum wage rates to keep pace with inflation: Arizona, Colorado, Florida, Missouri, Montana, Nevada, Ohio, Oregon, Vermont and Washington.
So far, five of those states have announced their 2012 minimum wage increases:
- Colorado’s will jump 28 cents to $7.64
- Montana’s will jump 30 cents to $7.65
- Ohio’s will jump 30 cents to $7.70
- Oregon’s will jump 30 cents to $8.80, and
- Washington’s will jump 37 cents to $9.04.
Washington’s wage of $9.04 is the highest in the country, and its 37-cent boost amounts to a $770 raise for those earning the state minimum.
The federal minimum wage stands at $7.25, or just over $15,000 for those full-time workers earning it. Overall, 18 states, plus the District of Columbia, have minimum wage rates higher than the federal rate.
PREETI BOHRA
PGDM 3SEM
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