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Gas prices are up. Food costs more. And for low-wage workers, wages are up too – by law.
Starting July 1, the minimum wage is increasing for those who work in Chicago or the rest of Cook County anyway.
By how much depends.
After staying stagnant from 2020-2021, in suburban Cook County, the untipped minimum wage will rise by 35 cents to 13.35 an hour.
Chicago has various floors based on whether the employee depends heavily on tips and the size of the business they work for.
Starting next month, minimum wage employees of larger businesses (with 21 employees or more) will see their paychecks rise by 40 cents an hour to $15.40 while those who work for businesses that employ 4-20 people will make at least $14.50.
For jobs that rely heavily on tips, the minimum wage is $9.24 at larger companies, and tips are supposed to make up the difference so an employee reaches the same $15.50 an hour minimum.
The impact of raising government-mandated wage floors is debatable, even by economists.
Chair of the economics department at Northern Illinois University, Carl Campbell, said there been a lot of research on the impact of the minimum wage on employment and the results are often at odds.
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