Millions of American workers will see pay raises in the new year due to minimum-wage increases in 20 states and 21 cities.
In addition, 13 cities and counties are hiking their minimum wages to $15 an hour or higher in the new year, the nonprofit says.
According to Floridajobs.org, the minimum wage rate is recalculated yearly on September 30, based on the Consumer Price Index.
Workers at small businesses in NY will receive $1.50 an hour minimum wage hike, from $12 to $13.50.More news: North Korea's Kim says he's ready for more talks with Trump
For the rest of the state, the minimum hourly rate will go from $10.40 an hour to $11.10.
Wiggins said the price hikes are necessary to help offset an estimated $10,000 to $12,000 in additional annual pay to his staff as a result of a new minimum wage law taking effect Tuesday. The highest minimum wage in the land will be $16.09 for hospitality and transportation employees in SeaTac, Washington (a city that grew up around the Seattle-Tacoma International Airport).
Twelve states-Arizona, Colorado, Florida, Maine, Massachusetts, Michigan, Missouri, Ohio, South Dakota, and Vermont, are raising the minimum wage for tipped employees (such as waiters).
In October, however, those same researchers reached a contrasting conclusion. This brings to 29 the number of states with higher minimum wages than the federal level. Before the scheduled increase Monday, the minimum wage was $13.50. That gain generally went to those who already had been working more hours while those who had been working less saw no significant change in their overall earnings.More news: Kevin Spacey to Plead Not Guilty to Sexual Assault Charge
"Another New Year comes with another mandated wage increase in New York City that small businesses will have to figure out how to manage", said Andrew Rigie, executive director of the New York City Hospitality Alliance, summing up sentiment among many of his fellow members in the service sectors.
Both supporters and opponents of higher minimum wages have pointed to the Seattle studies.
"It's been a long time since we've raised the federal minimum wage, and if Congress isn't going to do it, state lawmakers are feeling compelled to do it, and even local lawmakers", said David Cooper, senior economic analyst at EPI, a left-leaning research group.
Up until a few decades ago, many economists anxious that raising the minimum wage would lead to employers hiring fewer workers. The federal minimum for workers who receive tips is $2.13 per hour.More news: Morocco: Swiss arrested after murder of student