Minimum Wage Increases in 2013

December 31, 2012 1:55 PM

MoneyAt least 10 states get a boost in 2013

The minimum wage is going up in ten states on New Year’s Day.

Washington state’s minimum wage will be $9.19/hour.  Workers in Rhode Island are getting a 35-cent raise to $7.75/hour.

Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon and Vermont are also raising their minimum wages between ten and 15 cents per hour.

The federal minimum wage is $7.25/hour.

Overall, roughly one million workers in these states will be directly or indirectly affected by the changes.  Unfortunately, if the payroll tax cut is not extended as part of the budget negotiations in Washington, most of the raises would be eaten up by the higher tax rate next year.

Tags: