Twenty states where minimum wages will rise in 2021 - ForumDaily
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Twenty states with minimum wages to rise in 2021

Twenty states are raising their minimum wage rates (some by a few cents, others by a dollar or more) as part of a previously planned cost-of-living adjustment effort or to meet goals such as a $ 15 minimum wage an hour. Writes about it CNN.

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In New Mexico, the minimum wage will increase to $10,50, which is $1,50 more than the current one. And in California, the rate for employers with 26 or more workers will increase from $13 to $14 per hour, the highest baseline in the country. In Minnesota, the profit is only 8 cents at an hourly rate of $10,08 for large employers.

In these 19 states, the minimum wage will increase from January 1, 2021. The increase in New York will occur on December 31, 2020:

  • Alaska - $10,34 (up 15 cents)
  • Arizona - $12,15 (up 15 cents)
  • Arkansas - $11,00 (up $1)
  • Washington - $13,69 (up 19 cents)
  • Vermont - $11,75 (up 79 cents)
  • Illinois - $11,00 (up $1)
  • California - $14,00 (up $1)
  • Colorado - $12,32 (up 32 cents)
  • Massachusetts - $13,50 (up 75 cents)
  • Minnesota - $10,08 (up 8 cents)
  • Missouri - $10,30 (up 85 cents)
  • Montana - $8,75 (up 10 cents)
  • Maine - $12,15 (up 15 cents)
  • Maryland - $11,75 (up 75 cents)
  • New Jersey - $12,00 (up $1)
  • New York - $12,50 (up 70 cents)
  • New Mexico - $10,50 (up $1,50)
  • Ohio - $8,80 (up 10 cents)
  • Florida - $8,65 (up 9 cents)
  • South Dakota - $9,45 (up 15 cents)

The federal minimum wage of $ 7,25 per hour has not changed since 2009, and from 2021 it will remain at or below the federal level in 20 US states. The federal minimum wage peaked in 1968 at $ 1,60, which would be about $ 2020 in 12 dollars.

While some of the new increases were introduced several years ago, they have added value now that low-wage workers have been hit particularly hard by the coronavirus pandemic.

“We have many low-wage service workers struggling through the COVID-19 crisis, many of whom work in jobs with increased risk of transmitting the virus,” said Ken Jacobs, chairman of the Center for Labor Research and Education at the University of California-Berkeley. “This will be a very welcome incentive for them.” “In addition, many families are now struggling with this crisis.”

According to federal data, minimum wage workers tend to be younger and work primarily in the leisure and hospitality industry. These service-oriented businesses suffered losses throughout the pandemic as public health and safety measures prompted the closure of restaurants, hotels and entertainment venues.

As the pandemic raged, housing and food shortages increased and incomes fell. And these were workers with lower wages who suffered from the economic consequences.

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Business interests recede

At the same time, some lawmakers and businesses have called for a suspension of planned minimum wage increases, citing the burden on already struggling small businesses.

In New York, members of the State Senate Republican Conference called on Gov. Andrew Cuomo to end a planned raise that takes effect December 31.

“We don't want our small businesses to have to make the difficult choice of laying off workers or closing because that's the last straw during a time of financial uncertainty due to the pandemic,” Senate Republican Leader Rob Ortt said in early December.

The Cuomo administration later released a report that concluded that the state's labor market recovery was "unlikely to be significantly hurt" by raising the minimum wage, but rather the pace and distribution of vaccines would have a much larger impact on the labor market.

"New York is implementing the minimum wage gradually, over many years, rather than all at once," Evercore ISI economist Ernie Tedeschi told CNN Business. “Moreover, and this is the most important point, the schedule for increasing the minimum wage in New York has been known for many years, and businesses have been planning and anticipating this increase all along.”

Starting December 31, the state's minimum hourly wage will increase from 70 cents to $ 12,50 an hour. The minimum wage in the suburbs of Long Island and Westchester County will also rise from $ 13 an hour to $ 14 an hour. (The minimum has already been set at $ 15 in New York).

Some states will have to wait

In Michigan, the pandemic is likely to undermine efforts to increase the minimum wage. There, state law prohibits a planned increase in the minimum wage when the state's annual unemployment rate exceeds 8,5%.

Although Michigan's unemployment rate has improved recently, it averaged 10,2% from January to October, so it is "unlikely" that the average annual rate will fall below the 8,5% threshold, the State Bureau of Labor Relations said. The minimum wage in Michigan will remain at $ 9,65 instead of rising to $ 9,87.

For the 20 states that will raise their minimum wage, the impact should ultimately be more positive than negative, experts say. Redistributing money to low-wage workers is smart policy because they will spend it. This will help reduce the consumer demand that the economy is currently facing.

And public support for raising the minimum wage appears to be growing. On Election Day, Florida voters passed a measure to raise the state's minimum wage to $15 an hour by 2026, up from $8,56 this year. A Public Agenda/USA Today/Ipsos poll released in September showed an increase in such support.

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Much of the minimum wage increase has occurred at the state, city, or business level, including companies like Target and Amazon offering $ 15 an hour pay.

President-elect Joe Biden wants to raise the federal minimum wage to $ 15 an hour, but he is unlikely to have solid Senate support to do so. However, he could raise the minimum wage to $ 15 an hour for federal contractors through his executive order.

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