Minimum Wage Increases Impacting More than 9 Million Workers on January 1
Monday, 30 December 2024, 11:42
Significant Wage Hikes Ahead
Minimum wage adjustments taking effect on January 1 will benefit over 9 million low-wage earners across 21 states.
- 13 states are increasing wages based on inflation.
- Legislative measures in 6 states are pushing these changes.
- 2 states are implementing increases through ballot measures.
Socioeconomic Implications
Almost 20% of affected workers live in households below the poverty line, with around 49% earning less than twice that marker. EPI states the federal minimum wage of $7.25 hasn’t changed since 2009, resulting in a 30% loss in purchasing power due to inflation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.