California's minimum wage will jump to $15.50 per hour next year, an increase triggered by soaring inflation that will benefit about 3 million workers in the state.
"We're still overall having a very strong economic recovery in the state from the COVID-19 recession," California Department of Finance spokesman H.D. Palmer said."But it's clear that we face a lot of headwinds: gas prices remain high, food prices are high because of inflation."
The law says the minimum wage must increase to $15.50 per hour for everyone if inflation increased by more than 7% between the 2021 and 2022 fiscal years. Thursday, the California Department of Finance said they project inflation for the 2022 fiscal year — which ends June 30 — will be 7.6% higher than the year before, triggering the increase.
The increase will impact smaller companies the most, which will see the minimum wage jump $1.50 in January. Kerry Jackson, a fellow at the conservative-leaning Pacific Research Institute's Center for California Reform, said the increase could cause some employees at smaller companies to work fewer hours.consumer prices jumped 8.3% nationally
Democratic leaders in the Legislature have rejected that plan, instead favoring one that would send $200 checks to low-to-moderate income taxpayers and their dependents.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
California minimum wage rising to $15.50/hour in 2023 amid soaring inflationSoaring inflation will trigger an automatic increase in California's minimum wage next year, Gov. Gavin Newsom's administration announced Thursday.
Consulte Mais informação »
Inflation triggers California minimum wage increase in 2023California's minimum wage will jump to $15.50 per hour next year, Gov. Gavin Newsom's administration announced Thursday, an increase triggered by soaring inflation that will benefit about 3 million workers.
Consulte Mais informação »
California to raise minimum wage to $15.50California Governor Gavin Newsom announced that the state's minimum wage will be increasing to offset the costs residents are feeling due to rising inflation.
Consulte Mais informação »
California will raise minimum wage to $15.50 due to inflationCalifornia law requires a minimum wage increase when inflation exceeds 7%.
Consulte Mais informação »