Election leads to minimum-wage increases: Is your state affected?

A Republican president isn’t the only major change ushered in by the election. Several states will get a minimum wage bump as a result, too.

With overwhelming approval, voters approved statewide minimum wage increases in four different states.

Result: By 2020, the following states will have new minimum wages of:

• Arizona ($12 per hour)
• Colorado ($12 per hour)
• Maine ($12 per hour), and
• Washington ($13.50).

Maine will also see its minimum wage increase from $9.00 to $10.00 per hour, starting on Jan. 1, 2017. A few other states (and a number of cities) that will also see minimum wage increases in 2017:

• New York increases to $13 per hour by December 1, 2017 (from $11 per hour)
• Oregon increases to $10.50 per hour by 7/1/2017 (from $9.25), and
• Maryland increases to $9.25 per hour by July 2017 (from $8.75).

The election-based increases were also supported by businesses that believe these minimum wage bumps would ultimately have a positive long-term impact on their own bottom lines.

The push for a federal increase

States that aren’t impacted by minimum wage increases in the near future need to be aware of the growing push to increase the federal minimum wage from the current rate of $7.25 per hour.

Reason: More than $1,000 biz owners, execs and business groups have signed a “Business for a Fair Minimum Wage Statement” that aims to have a federal minimum wage of at least $12 per hour by 2020.