The federal minimum wage isn’t changing and remains $7.25 an hour.
After a year of consistently high inflation — the annual inflation rate has been over 7% every month for the past year — many Americans are looking for ways to combat the high prices.
That’s turned questions about minimum wage increases into breakout search terms on Google for the first week of 2023.
Are some states raising their minimum wages in 2023?
Yes, 26 states are expected to raise their minimum wages within the next year. The federal minimum wage, however, is remaining $7.25.
The Economic Policy Institute (EPI) said 23 states, plus Washington, D.C., raised their minimum wages on Jan. 1, 2023, as did 27 cities and counties. The hourly wage hikes ranged from $0.23 to $1.50.
In Michigan, the minimum wage increased by $0.23 from $9.87 to $10.10, although it could increase again to $13.03 in February depending on a court decision. Nebraska increased its minimum wage by $1.50, from $9.00 to $10.50.
Moving forward, EPI says 26 states and D.C. have minimum wage increases scheduled to take place within the next year. Many of these 26 states also increased their minimum wages on Jan. 1, but have recurring increases already scheduled.
EPI says D.C. and 30 states already have higher minimum wages than the federal minimum wage, which is the lowest rate that’s legally allowed nationwide.
The U.S. Department of Labor says the federal minimum wage is $7.25 an hour, and hasn’t changed since...
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