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Nearly half the states in the U.S. are set for minimum wage increases on Jan. 1, which will mean a pay hike for some 9.2 million workers, according to recent data. An analysis by The Economic ...
The federal minimum wage applies in states with no state minimum wage or a minimum wage lower than the federal rate (column titled "No state MW or state MW is lower than $7.25."). Some of the state rates below are higher than the rate on the main table above. That is because the main table does not use the rate for cities or regions.
The general wage increase is TBD after 2024, TBD after 2026 for seasonal wages, and will stop at $5.13 for tipped workers in 2022, and is TBD in 2025. [272] The minimum wage will increase in 2023 by an additional 13¢ in addition to its standard increases in pay rates due to an increase in the Consumer Price Index. [274]
The beginning of 2024 brought good news to certain minimum wage workers, as 22 states and 38 cities and counties raised their own minimums above the federal minimum. As CBS News reported, the pay...
After a series of annual $1 increases set by the General Assembly, Connecticut’s $15 minimum wage will rise by a relatively modest 69 cents on Jan. 1, the first of the state’s raises pegged to ...
Increases the minimum wage to $18/hr (currently $16/hr) by 2026, subject to annual increase based on inflation. Nov 5 >50% TBD: Massachusetts: Citizens On ballot Question 5: Increases the minimum wage for tipped employees (currently $6.75/hr) to the state minimum wage of $15/hr by 2029 while continuing to permit tipping. Nov 5 >50% TBD ...
In 2025, Social Security will tax wages up to $176,100, up from $168,600 in 2024. The change takes effect in January 2025, though the tax rate on those wages, 6.2 percent, will remain the same.
The Kaitz index, devised in 1970 and named after Hyman Kaitz, is an economic indicator represented by the ratio of the nominal legal minimum wage to median wage adjusted for the industry-level coverage. [1] [2]