On or about January 1st, the minimum wage is set to increase in 21 states, while another 26 cities and counties are also expected to raise the minimum starting pay.

  • Since 2009, the federal minimum wage has been $7.25, but by the end of next year, there are at least 25 states scheduled to raise the minimum wage, with some having plans to reach a $15 baseline pay within three to five years.
  • The pay hikes will benefit about 6.8 million workers with estimates that the bump in wages could increase a worker’s income range from $150 to as high as $1,700 for full-time year-round workers.
  • Federal lawmakers have discussed raising the minimum wage to $15 by 2024, which would potentially benefit up to 27 million workers, but 1.3 million people would also lose their jobs according to analysis from the Congressional Budget Office.

See where wages are set to rise at the outset on the New Year here.

Meanwhile - the Federal Minimum Wage stands frozen at $7.25 for the 11th year without a raise.