Minimum Wage Hike to Do Little to Lift Workers from Poverty
The National Employment Law Project (NELP) reports that the minimum wage will increase in 10 states as 2013 begins. These include Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Rhode Island, Vermont and Washington. The figure will move up to about $7.50 an hour on average.
As the fiscal cliff threat slows the economy, and taxes rise for many individuals, the improvement is not great enough to pull people at this level of income from near or at the poverty line. Based on NELP's math:
The state minimum wage rates will rise between 10 and 35 cents per hour, resulting in an extra $190 to $510 per year for the average directly-affected worker.
Just $150. That is all.
Douglas A. McIntyre
Filed under: 24/7 Wall St. Wire, Labor