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KEY TAKEAWAYS
- Over 9.2 million minimum-wage staff noticed their paychecks enhance as 21 states raised their wage flooring to regulate for inflation, poll measures, and laws.
- Moreover, 48 cities and counties will elevate the minimal wage larger than their present state’s.
- One estimate discovered that staff in these states will earn $420 to $868 extra per yr.
Minimal-wage staff in 21 states entered the brand new yr with an elevated paycheck.
In response to the nonpartisan suppose tank Financial Coverage Institute (EPI), greater than 9.2 million staff noticed a elevate of their minimal wage paychecks beginning on Jan. 1. They may obtain a complete of $5.7 billion extra pay in 2025.
Moreover, 48 cities and counties, largely in California, Colorado, and Washington, will additional enhance the wage ground above their state’s minimal.
On common, full-time minimal wage staff within the affected states will earn from $420 to $868 extra per yr.
Greater than half of staff will obtain raises in keeping with rising prices of dwelling, as nearly all of will increase had been by automated annual inflation changes. Some states additionally carried out extra vital minimal wage will increase by poll measures and laws.