How much will the minimum wage in Florida increase in September?

Nearly fifteen years have passed since the federal minimum wage was increased to $7.25 an hour.

However, states, and in many cases, voters, have opted to approve bills and ballot measures that increase the minimum wage at the state level. Florida is one of these states, thanks to a 2020 ballot measure that was approved by voters to raise the state’s minimum wage to $15 by 2026.

The increase and when it will be implemented

The increases began in 2021, and this year, on September 30, the lowest legal wage that can be paid to non-tipped workers is $13 an hour. Next year, it will rise to $14, and in 2026 it will hit $15. From there on, the bill requires that the minimum wage be adjusted by the Bureau of Labor Statistics’ Consumer Price Index to prevent inflation from cutting into the purchasing power of the state’s lowest-paid workers. For low-income families, these measures are critical as inflation can quickly push people into poverty when their wages are barely enough to get by under more “favorable” economic conditions.

For those who receive tips, the minimum wage will rise to $9.98 in September.

How has the increase impacted poverty?

There are dozens of factors that continue to decrease the poverty rate, and raising the minimum wage is just one. In Florida, since 2019, poverty has fallen from 14.0 to 12.9 percent in 2022. When the 2023 figures become available, we will be in a better position to evaluate whether the increase has had a sustained impact on reducing poverty.