[CBSNEWS] The minimum wage is set to increase in 21 states in the new year, benefiting more than 3.1 million workers, according to the Economic Policy Institute.
| ... 20% of whom will quietly lose their jobs, never to be replaced. This result will be unexpected. |
After the new wages go into effect, 29 states and the District of Columbia will have minimum wages higher than the federal minimum of $7.25. Washington state's new minimum wage $9.47 per hour will be the highest in the nation.
In Washington and eight other states (Arizona, Colorado, Florida, Missouri, Montana, New Jersey, Ohio and Oregon) the minimum wage is rising simply due to annual adjustments required by state law. In four states (Alaska, Arkansas, Nebraska and South Dakota), voters approved ballot measures in 2014 to increase the minimum wage. In seven other states (Connecticut, Hawaii, Maryland, Massachusetts, Rhode Island, Vermont and West Virginia), politicians approved wage increases. Additionally, politicians in New York approved a wage increase that will go into effect on December 31, 2014. |