18 States will raise their Minimum Wage on January 1
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Title : 18 States will raise their Minimum Wage on January 1
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Title : 18 States will raise their Minimum Wage on January 1
link : 18 States will raise their Minimum Wage on January 1
news-today.world | While the White House and members of the GOP package the sweeping tax code overhaul as a win for the average American, low-wage workers may be hit the hardest.
This setback comes as the U.S. minimum wage has remained stagnant over the last decade. The last time the federal minimum wage increased was in July 2009, from $6.55 to $7.25. However, now 18 states are taking matters into their own hands, raising the minimum wage, effective January 1, 2018.
Ten states are doing so as the result of legislation over the last few years. Eight states will have smaller inflation-adjusted increases.
4.5 million workers
Left-leaning think tank Economic Policy Institute estimates that the increases will benefit 4.5 million workers. In the absence of Congress raising the wage floor, states and cities are tasking themselves with paying the lowest rung of workers a bit more.
“Increasing the minimum wage is a crucial tool to help stop growing wage inequality, particularly for women and people of color who disproportionately hold minimum wage jobs,” according to EPI economic analyst Janelle Jones.
Though the economy has been humming along, wage growth is lackluster and low-income workers have been disproportionately affected.
“For much of the past three decades, the wages of those at the bottom of the wage distribution have failed to keep up with overall economic gains. Most of the wage increase has occurred among the top half of the wage distribution, especially since the 1990s,” said UMass Amherst economics professor Arindrajit Dube.
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This setback comes as the U.S. minimum wage has remained stagnant over the last decade. The last time the federal minimum wage increased was in July 2009, from $6.55 to $7.25. However, now 18 states are taking matters into their own hands, raising the minimum wage, effective January 1, 2018.
Ten states are doing so as the result of legislation over the last few years. Eight states will have smaller inflation-adjusted increases.
4.5 million workers
Left-leaning think tank Economic Policy Institute estimates that the increases will benefit 4.5 million workers. In the absence of Congress raising the wage floor, states and cities are tasking themselves with paying the lowest rung of workers a bit more.
“Increasing the minimum wage is a crucial tool to help stop growing wage inequality, particularly for women and people of color who disproportionately hold minimum wage jobs,” according to EPI economic analyst Janelle Jones.
Though the economy has been humming along, wage growth is lackluster and low-income workers have been disproportionately affected.
“For much of the past three decades, the wages of those at the bottom of the wage distribution have failed to keep up with overall economic gains. Most of the wage increase has occurred among the top half of the wage distribution, especially since the 1990s,” said UMass Amherst economics professor Arindrajit Dube.
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You are now reading the article 18 States will raise their Minimum Wage on January 1 With link address https://newstoday-ok.blogspot.com/2017/12/18-states-will-raise-their-minimum-wage.html