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Get ready for a pay bump! Hundreds of thousands of workers across the US will see their minimum wage rise starting July 1st. These increases will impact over a dozen states, cities, and counties, offering much-needed financial relief amidst rising living costs.
While the federal minimum wage remains stagnant at $7.25 per hour, many states and local governments are taking action. These increases are being implemented through various means, including legislation, ballot initiatives, and automatic adjustments tied to inflation.
Alaska is leading the charge with a $1.09 increase to $13.00 per hour, thanks to a voter-approved ballot measure. This change will benefit nearly 20,000 Alaskan workers, adding an average of $925 to their annual earnings.
Meanwhile, Washington, D.C. will see its minimum wage climb to $17.95 per hour, a 45-cent boost tied to inflation. Over 62,000 workers in the district stand to gain an average of $727 annually.
Oregon’s minimum wage, also linked to inflation, will rise by 35 cents to $15.05 per hour, impacting over 800,000 workers and providing an average annual increase of $420.
California is also a hotbed of change, with ten cities and counties implementing raises ranging from 45 to 59 cents per hour. These increases result in some of the highest local minimum wages nationwide, with Emeryville topping the list at nearly $20 per hour. Other cities like Berkeley and San Francisco will see their minimums rise to $19.18, while Los Angeles and surrounding areas will reach just under $18.
Beyond the West Coast, Chicago will boost its minimum wage by 40 cents to $16.60 per hour, and Montgomery County, Maryland will see a 50-cent increase to $17.65.
The Economic Policy Institute (EPI) notes that these increases will disproportionately benefit women, Black workers, and Hispanic workers. According to EPI analyst Sebastian Martinez Hickey, these raises will provide vital financial support, helping workers and their families better manage the challenges of rising expenses.