Exciting News! New Year New Minimum Wage
The 10 states raising the minimum wage as a result of legislation or ballot measures are: Arizona, California, Colorado, Hawaii, Maine, Michigan, New York, Rhode Island, Vermont and Washington, according to EPI. Ladies now there is no excuse for not saving your money.
The federal minimum wage has remained the same of $7.25 per hour since 2009, but as of now there are 29 states with laws mandating higher pay than that. Recent data shows that by 2024 workers will need at least a $15 per hour minimum wage in order to cover basic living expenses.
About 4.5 million workers around the country will benefit from the wage increases taking effect early this year, the Economic Policy Institute says.