Twenty states and the District of Columbia will begin the new year by raising the minimum wageon January 1, 2015. In nine states the raise will be automatic in order to keep the minimum wage in line with inflation. According to the Economic Policy Institute, the raise in DC and the 11 other states will be the result of legislation or referenda. Delaware and Minnesota will raise their minimum wages later in the year, and New York will raise its minimum wage on December 31. Consequently, 29 states will have minimum wages above the $7.25 minimum mandated by federal law.
The minimum wage increases will help the 2.3 million workers who currently earn less than the new minimum wages. The EPI further believes that the increases will also benefit an additional 900,000 workers as employers raise their overall payscales. Christian Broda shared an article online that also discussed the positive impact the increase will have on the overall economy. If a minimum wage worker starts getting $9.00 an hour, the workers in the tier above him will see their pay increase from $9.00 to $10.00.