Starting this month, about 4.3 million workers will receive higher pay in the U.S.
According to the Economic Policy Institute (EPI), 19 states increased their minimum wages on January 1, 2017. To date, this is the largest group of states ever in one year to raise their minimum wages independently without increasing the federal minimum wage.
Seven of the states, including Alaska, Florida, Missouri, Montana, New Jersey, Ohio and South Dakota, raised their minimum wages due to inflation indexing, while the other 12 states raised wages after legislation and ballot measures.
Low inflation last year contributed to smaller minimum wage increases in Alaska, Florida, Missouri and Ohio. Each state’s minimum wage went up by just 5 cents because of gradual adjustments made to match annual price growth. Ballot measures contributed to the largest minimum wage hikes in two states, Arizona ($1.95 increase) and Washington ($1.53 increase).
EPI data demonstrated that legislative increases would directly benefit a significant portion of the U.S. workforce. Minimum wage increases would instantly impact a percentage of each state’s workforce. States that raised wages the most include Arizona (11.8%), California (10.7%), Washington (10.7%), Massachusetts (9.2%) and Connecticut (7.6%). Overall, the increases would provide more than $4.2 billion in additional wages to many workers in 2017.
The new minimum wage increases follow 2016’s statewide pay changes. On Election Day, four states, including Arizona, Colorado, Maine and Washington, passed higher minimum wage incentives, which will take effect in 2020. Last year, 14 states also boosted their minimum wages after changing laws and analyzing cost of living expenses. Currently, 29 states and Washington D.C. have minimum wages above the federal minimum wage, which remains static at $7.25 per hour.
How Amazon may strip Whole Foods of its touchy-feely ethos—and why that's a good thing—had how cold brew proves you can teach old dogs new tricks.Read more
Loftex Home and GHCL sign CertainT licences, Hollander Sleep Products Buys Pacific Coast Feather and Oeko-Tex certifies Tuft & Needle.Read more
The National Retail Federation continues to lobby Congress with regards to the border adjustment tax, reiterating its claim that it would shift corporate tax savings to consumers.Read more
NRF announced new board members this week, while Topshop hired a new CEO and Macy's stepped up its off-price game with a new executive.Read more
Fashion can’t escape what’s happening in the world whether it wants to or not, and for the Autumn/Winter 2018-19 season, textiles will look to balance all that’s been upended.Read more
The Chittagong Port Authority has taken steps to alleviate the congestion situation at Bangladesh’s top port, but no comprehensive plan is in the works to fix what has been a long-term logistical problem.Read more
Looking to boost cotton quality and exports, Egypt’s Ministry of Trade and Industry has signed a cooperation protocol with United Nations Industrial Development Organization (UNIDO) and the Italian Development Cooperation.Read more