Retailers across the country face budgeting changes as 25 states are raising their minimum wage in 2024, reported USA Today. On January 1, 22 states implemented their increased wages while three others are expected to implement their raise throughout the year.
The federal minimum wage remains unchanged at $7.25 an hour. It will remain the minimum wage in 20 states, which are located primarily in the South and in parts of the Midwest.
With the new wage hike, seven states, including California, Connecticut, Maryland, Massachusetts, New Jersey, New York and Washington, along with D.C., will offer a baseline pay of $15 or more an hour.
The 22 states that saw minimum wage increase on January 1, as reported by Paycom, are:
- Alaska: $11.73 (up from $10.85 per hour)
- Arizona: $14.35 (up from $13.85)
- California: $16 (up from $15.50)
- Colorado: $14.42 (up from $13.65)
- Connecticut: $15.69 (up from $15)
- Delaware: $13.25 (up from $11.75)
- Hawaii: $14 (up from $12)
- Illinois $14 (up from $13)
- Maine $14.15 (up from $13.80)
- Maryland: $15 (up from $13.25)
- Michigan: $10.33 (up from $10.10)
- Minnesota: $8.85 small employers; $10.85 large (up from $8.63 and $10.59, respectively)
- Missouri: $12.30 (up from $12)
- Montana: $10.30 (up from $9.95)
- Nebraska: $12 (up from $10.50)
- New Jersey: $15.13; $13.75 seasonal/small employers (up from $14.13 and $12.93, respectively)
- New York: $15 (up from $14.20); additionally, New York City, Westchester and Long Island: $16 (up from $15)
- Ohio: $10.45 (up from $10.10)
- Rhode Island: $14 (up from $13)
- South Dakota: $11.20 (up from $10.80)
- Vermont: $13.67 (up from $13.18)
- Washington: $16.28 (up from $15.74)
Nevada and Oregon will increase their minimum wage to $12 per hour on July 1, and on September 30, Florida will increase its minimum wage to $13 per hour. Washington D.C. is expected to raise its minimum wage from $17 to an undetermined rate on July 1.
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