Will Florida increase the minimum wage in 2024?
Several states in the country increased their salaries in January, while others will do so in July, but what is happening in Florida? When will it go up?
For more than 10 years, the federal minimum wage has remained unchanged at $7.25 per hour. Fortunately for many workers, 30 states, including Florida, as well as the District of Columbia, have established higher base salaries.
Some of these have legislation that establishes automatic annual increases, while others link their increases to the cost of living and inflation. Generally, the increases are applied at the beginning of the year, in January, but some states do so in July.
In January 2024, the District of Columbia and 22 states raised their respective minimum wages: Alaska, Arizona, California, Colorado, Connecticut, South Dakota, Delaware, Hawaii, Illinois, Maine, Maryland, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New York, Rhode Island, Ohio, Vermont and Washington.
On the other hand, the states of Nevada and Oregon, as well as the District of Columbia, will raise the minimum wage in July, but what happens in Florida? Will workers get a pay increase this year? We will share the details with you below.
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Florida prepares for an increase in the minimum wage until September
Thanks to an amendment approved by voters and the legislature, the minimum wage will increase in September 2024.
On November 3, 2020, voters in the Sunshine State approved a state constitutional amendment to increase the state's minimum wage annually until it reaches $15 per hour on September 30, 2026.
This year, state workers will see a new increase. On September 30, the standard minimum wage will rise to $13 per hour and $9.98 for tipped employees.
On the other hand, in 2025, the hourly base wage will increase to $14 per hour and $10.98 for tipped employees; and then in 2026, it will rise to $15 and $11.98 for tipped employees.
The amendment establishes increases of 1 dollar each year until reaching $15 in 2026, and then subsequent increases will be based on changes in inflation so that the purchasing power of workers is not negatively affected.
The $15 per hour wage will be in effect until December 31, 2027 and indexed increases based on inflation will begin in 2028.