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Minimum Wage is Going Up – Is Your State On the List?

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Although the federal minimum wage will remain the same, workers across 25 states will receive more money in their paychecks this year thanks to an increase in their state’s minimum wage. 

See: How To Ask For a Raise — and Get It
Find: Nearly 1 in 4 Americans Say Changing Jobs Is the Best Way to Get a Raise

Not only do minimum wage increases improve the overall standard of living for minimum wage workers, but according to researchers from the University of Northern Iowa and the U.S. Census Bureau, people who received minimum wage increases between ages 62 and 70 delayed claiming Social Security retirement benefits by an average of six months, AARP reported.

The Biden administration has advocated for a $15 federal minimum wage; however, attempts failed when Senate parliamentarian ruled against an increase in the minimum wage in the COVID relief bill, CNN noted. 

Most states saw wage increases beginning Jan. 1, AARP reported, but in Connecticut, Nevada and Oregon, the increase will occur on July 1, and in Florida, the wage increase will start on Sept. 30.

Here are the states receiving minimum wage increases in 2022:

See: Starbucks & Costco Announce Wage Raises Amid Continued Labor Market Crisis
Find: Walmart and 6 More Companies Giving Workers a Raise in 2021

Private companies, including Walmart, Target and Costco have taken it upon themselves to increase workers’ wages. Other companies have budgeted 4% more to improve worker compensation in 2022, as GOBankingRates previously reported.