This year, minimum-wage workers in 21 states will see bigger paychecks. Wages will impact around 9.2 million workers and raise pay by a total of $5.7 billion, according to the Economic Policy Institute. California is one of the 14 states that have adjusted their minimum wage due to inflation. Meanwhile, the federal minimum wage of $7.25 has not increased in 15 years. The dollar spending power is not what it used to be, putting workers in a tough spot as prices have risen over time. 💰 A full-time minimum wage worker earning $7.25 an hour makes just $20 over the poverty guidelines for a single-person household. If kids or other family members are factored in that worker is below the poverty level. 💰 A “true living wage” that supports an individual’s basic food and housing needs would be $20 to $26 or more per hour, depending on the state, Drexel University's Center for Hunger-Free Communities found in 2021. 💰 Women and Black and Hispanic workers most directly benefit from wage increases are women. Almost 60% of the workers seeing the raise are women. Are minimum wages increasing where you live? Check out a chart showing the state-by-state changes. |
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