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Millions of Workers Across U.S. Set for Minimum Wage Hike in 2024

Minimum Wage Hike
U.S. to Hike Their Minimum Wage in 2024 (Photo: Cakri Kujun)
Minimum Wage Hike in US

Millions of workers across the United States are on track for a much-needed pay raise next year (Photo: CNN)

Impactful Changes: Minimum Wage Up for US Workers

An increase in the minimum wage is planned to happen in many states in 2024, which will mean a much-needed pay raise for millions of workers across the United States. The minimum wage is going to go up in California, New York, and Washington. In California, the minimum pay for fast food workers is going to go up to $20 an hour. In the United States, half of the states plan to raise their minimum wages. In those states, the new minimum wage will be at least $16 an hour.

Twenty-two states will start using the new rates on January 1, while Nevada and Oregon will start using the new rates on July 1. In the meantime, Florida’s minimum wage will go up on September 30. Even with these increases, workers in 20 states may still have to pay the government minimum wage, which hasn’t changed since 2009 and is now $7.25 an hour.

Many people who make low wages are still feeling the effects of inflation, which is why the idea of raising the minimum wage is so important right now. Recently, inflation has begun to slow down after reaching a 40-year high in 2022. But everyday things like food and rent still cost a lot more than they did before the plague.

READ ALSO: American Spending Increased By $1,000 In 2023 Due To Strong Wage Growth

Economic Equality: Moving Towards Fair Wages for All Workers

According to research from the Center for American Progress, about one in four U.S. workers made less than $15 an hour in 2021. People of color and women were more likely to be low-wage workers than other groups. People who want higher minimum wages, like Holly Sklar, CEO of Business for a Fair Minimum Wage, stress that raising the wage helps workers and the business as a whole.

Sklar says that workers who are paid less but get raises are a big reason why people spend more, which is important for businesses to stay open. The fact that the federal minimum wage is too low compared to the cost of living makes this widespread rise even more important.

As we get closer to 2024, the upcoming increase in the minimum wage could help a lot of workers. This would be in line with efforts to rebuild the economy as a whole and give people hope for a more fair future.

READ ALSO: SNAP Payouts In Montana Worth Up To $1,751 In January

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