If you live in Washington DC or in one of another 20 states, you may notice a little bump in your paycheck.
That’s because the minimum wage was set to increase in due to a slew of new laws passed by state legislatures last year, in addition to a number of states with automatic adjustments. The rates hikes are anywhere from 12 cents in Florida to $1.25 in South Dakota. Washington state will have the highest minimum wage at $9.47. The federal minimum wage, at $7.25, is not increasing due to inaction by Congress despite an aggressive push earlier in 2014.
Economists expect that the wage hikes will benefit nearly 2.3 million workers directly and another 900,000 who would be indirectly affected as employers upwardly adjust payscales.
So… you might still hate your job but you might get paid more for it now. Happy New Year?