Table 1

Summary of minimum wage increases under the Raise the Wage Act of 2019, and number of workers affected by the increases, 2019–2025

Date Minimum wage Increase Tipped minimum wage Tipped minimum increase Total estimated U.S. workforce (thousands) Directly affected (thousands) Indirectly affected (thousands) Total affected (thousands) Affected workers’ share of U.S. workforce
July 2019 $7.25 2.13
October 2019 $8.40 $1.15 $3.55 $1.42 145,357 2,152 4,216 6,368 4.4%
October 2020 $9.50 $1.10 $5.00 $1.45 146,148 5,013 7,008 12,021 8.2%
October 2021 $10.60 $1.10 $6.45 $1.45 146,963 8,034 8,578 16,612 11.3%
October 2022 $11.70 $1.10 $7.90 $1.45 147,801 13,071 7,233 20,303 13.7%
October 2023 $12.80 $1.10 $9.35 $1.45 148,665 15,487 9,273 24,760 16.7%
October 2024 $13.90 $1.10 $10.80 $1.45 149,554 19,350 11,210 30,560 20.4%
October 2025 $15.00 $1.10 $12.25 $1.45 150,469 23,237 10,222 33,459 22.2%

Notes: Values reflect the result of the proposed change in the federal minimum wage. Wage changes resulting from scheduled state and local minimum wage laws are accounted for by EPI’s Minimum Wage Simulation Model. Totals may not sum due to rounding. Shares calculated from unrounded values. Directly affected workers will see their wages rise as the new minimum wage rate exceeds their existing hourly pay. Indirectly affected workers have a wage rate just above the new minimum wage (between the new minimum wage and 115 percent of the new minimum). They will receive a raise as employer pay scales are adjusted upward to reflect the new minimum wage. Wage increase totals are cumulative of all preceding steps.

Source: Economic Policy Institute Minimum Wage Simulation Model using data from the Census Bureau, Bureau of Labor Statistics, and Congressional Budget Office. See David Cooper, Zane Mokhiber, and Ben Zipperer, Minimum Wage Simulation Model Technical Methodology, February 2019.

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