On Jan. 1, 22 states will bump up their minimum wage, according to a report from the Washington, D.C. think tank Economic Policy Institute (EPI). The increases come by way of ballot measure, legislation and inflation adjustment measures, and are expected to add anywhere from $216 to $1,380 to the annual earnings of almost 10 million workers.
Money Magazine
January 5, 2024
Business Insider
January 5, 2024
Almost half of the 17.6 million people making less than $15 an hour live in those 20 states, according to the Economic Policy Institute.
Newser
January 5, 2024
9.9 million: The number of Americans who will get a pay raise on New Years Day, when the minimum wage in 22 states increases. The left-leaning Economic Policy Institute estimates that those wage hikes will mean workers earn an additional $6.95 billion in the coming year. (The Hill)
Pluribus News
January 5, 2024
“These increases will also bring important benefits to working families. More than a quarter (25.8%) of affected workers are parents, or more than 2.5 million people. In total, 5.6 million children live in households where an individual will receive a minimum wage increase,” – Economic Policy Institute.
KIKN
January 5, 2024
Starting on Jan. 1, the pay increases will raise the wages for 9.9 million employees, and the Economic Policy Institute (EPI) projects that the boost in pay will add up to an extra $6.95 billion in additional wages from state minimum wage increases.
FOX 32
January 5, 2024
A new year will bring more pay for millions of Americans, according to a new study from the Economic Policy Institute (EPI).
On New Year’s Day, 22 states will raise their minimum wage, giving nearly 9.9 million Americans a pay raise. In total, workers will receive $6.95 billion in additional wages from the increases.
The Hill
January 5, 2024
The minimum wage increase will affect 9.9 million workers, according to an Economic Policy Institute report. The increase will equate to just under $7 billion.
The Messenger
January 5, 2024
An analysis by the Economic Policy Institute in Washington, D.C., found that raising the federal minimum wage to $17 by 2028 would positively impact nearly 28 million workers across the country. The average affected worker who works year-round would receive an extra $3,100 per year.
“Raising the federal minimum wage is critical to protect workers who have been left behind,” said Ben Zipperer, senior economist at the Economic Policy Institute. “A higher federal minimum wage can build on existing state-level standards and lock in the wage gains made by low-wage workers in the economic recovery from the COVID-19 pandemic.”
SHRM
January 5, 2024
Paying people a living wage may also boost the economy: The Economic Policy Institute estimated that raising the federal minimum wage to $15 by 2025 could save taxpayers between $13.4 billion and $31.0 billion annually on major public assistance expenditures, all while increasing tax revenues since people are making more money.
Forbes
January 5, 2024