Sunday, January 6, 2013

Ten states increased minimum wage above $7.25 but only three matter.


The following states increased the minimum wage above the federal minimum wage (FMW = $7.25) on January 1st, 2013.  Only Vermont, Oregon, and Washington State offer minimum wages that are significantly  (20% or above) above the federal minimum wage.  The rest are withing 8% or less of the federal minimum wage.

You can only hope states are setting the stage for future increases. It is good to see some traditionally conservative states like Arizona, Florida and Montana raising the wage. Not sure what Missouri was thinking.  Must have been a compromise.


State Old Wage New Wage Increase % diff  FMW
Missouri             $     7.25  $       7.35  $    0.10 1%
Florida               $     7.67  $       7.79  $    0.12 7%
Montana            $     7.65  $       7.80  $    0.15 8%
Washington        $     9.04  $       9.19  $    0.15 27%
Oregon              $     8.80  $       8.95  $    0.15 23%
Ohio                  $     7.60  $       7.85  $    0.25 8%
Colorado           $     7.64  $       7.78  $    0.14 7%
Arizona             $     7.65  $       7.80  $    0.15 8%
Rhode Island    $     7.40  $       7.75  $    0.35 7%
Vermont            $     8.46  $       8.60  $    0.14 19%


The current federal minimum wage is $7.25.

Vermont's minimum wage is indexed to inflation and the cost of living.

Washington State has the highest minimum wage at $9.19 per hour. It is indexed to inflation.  It was created by a voter initiative 688 approved in 1988. 

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