Minimum Wages Are On the Rise

Effective October 1, 2018, Delaware will enact a 50-cent increase in its minimum wage, bringing it to a new high of $8.75 per hour. Shortly thereafter and throughout 2019, adjustments will be made to minimum wage levels in 22 states and districts, including Alaska, Arizona, California, Colorado, Delaware (additional adjustment in 2019), the District of Columbia, Florida, Maine, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, Ohio, Oregon, Rhode Island, South Dakota, Vermont and Washington.

In an effort to increase the minimum wage, some states have passed legislation to enact adjustments on an annual basis based on the consumer price index or similar metric. Other states have passed fixed increases to attain a specific wage over time. Most notably, California, D.C., Massachusetts, and New York will reach a $15 minimum wage by 2023.

There has been a lot of debate surrounding the federal minimum wage law in recent years as the issue has taken a spot at the center of the nation’s political discussion. Regardless of whether the nation believes that the market should determine wages or that the national minimum should be raised, the reality of current state legislation is that the minimum wage will continue to increase across the country. As such, retailers can expect to see increases in one of their most significant expenses over the next five years.

For more on how these legislative actions can affect your business, contact us at [email protected]

You’ve heard our thoughts… We’d like to hear yours

The Schneider Downs Our Thoughts On blog exists to create a dialogue on issues that are important to organizations and individuals. While we enjoy sharing our ideas and insights, we’re especially interested in what you may have to say. If you have a question or a comment about this article – or any article from the Our Thoughts On blog – we hope you’ll share it with us. After all, a dialogue is an exchange of ideas, and we’d like to hear from you. Email us at [email protected].

Material discussed is meant for informational purposes only, and it is not to be construed as investment, tax, or legal advice. Please note that individual situations can vary. Therefore, this information should be relied upon when coordinated with individual professional advice.

© 2024 Schneider Downs. All rights-reserved. All content on this site is property of Schneider Downs unless otherwise noted and should not be used without written permission.

our thoughts on
Get the Low Down Before You Download: Exploring the Temu App’s Security Risks
Fortifying Retail Security: Essential Cybersecurity Tools and Software
Ensuring Network Security in the Retail Industry: A Crucial Imperative
Tis the Season: Unwrapping the Top Holiday Scams of 2023
ESG in Retail – A Movement Towards Sustainability
Protect Your Retail Business: 3 Common Cyber Attack Methods to Watch Out for in 2023
Register to receive our weekly newsletter with our most recent columns and insights.
Have a question? Ask us!

We’d love to hear from you. Drop us a note, and we’ll respond to you as quickly as possible.

Ask us
contact us
Pittsburgh

This site uses cookies to ensure that we give you the best user experience. Cookies assist in navigation, analyzing traffic and in our marketing efforts as described in our Privacy Policy.

×