If you work a job that pays minimum wage in the state of Florida, you are going to see a slight – and we mean slight – raise coming in the New Year.
Florida, which is one of eight states that raises its wages based on the annual cost of living calculations, will raise them by 10 cents to $8.56 starting on January 1st. Tipped employees will see their wages, right now at $5.44, go up just over one percent.
Voters will get a chance on Election Day 2020 to vote on a proposed amendment that would set a new hourly wage at $10 in 2021 and increase it by one dollar yearly to $15 in 2026 with future increases being calculated by cost of living.
The current wage calculations were created by a ballot initiative passed in 2004 that had the backing of education associations and workers unions. Among those who have fought the increases include companies like CVS and Florida-based Publix, Burger King and Walt Disney World – which argue increased wages would cost positions in the long run.