While the federal minimum wage hasn’t changed from its hourly rate of $7.25 since 2009, several states have taken it upon themselves to increase their own minimum. With a significant uptick in states requiring the federal minimum wage, it is only expected to see an increasing amount follow this trend in 2023.
Overall, 27 states have planned to increase their minimum wage throughout the year. While some are planning to enforce the increase on January 1st, many will not go into effect until later on in the year.
Most states have moved past the federal minimum wage, but some still remain at $7.25 and have no plans of increasing their minimum in 2023. The states that will keep the $7.25 minimum wage in 2023 are:
Some states still have not taken the larger leap of drastically increasing their minimum wage. But, while some states are raising the minimum wage by a few cents, most states that are raising their minimum wage are doing so by a dollar or more. Here are the states that are raising their minimum wage by at least $1 in 2023:
States that did not raise their minimum wage by at least $1 include Washington, Vermont, South Dakota, Rhode Island, Ohio, New Mexico, Nevada, Missouri, Montana, Michigan, Massachusetts, Maryland, and Alaska.
If you have further questions regarding the minimum wage in your state and how this may affect your business, reach out to us at ModVentures today.