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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

Minimum Wage Increases Throughout the Country

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ThinkStock ThinkStock

21 states increased the minimum wage rate on New Years Day, which means over 3 million workers in the United States will be bringing home a little more money this year.

Among the states that have agreed to raise the minimum wage rates are, Alaska, Arkansas, Connecticut, Florida, Nebraska, Ohio, Maryland, Massachusetts, Rhode Island and South Dakota, along with several others.

Massachusetts increased their minimum wage from 8 to 9 dollars an hour, while Connecticut raised theirs from 8.70 to 9.15 dollars per hour. These changes may seem minimum to many, but it will make a difference for those working on minimum wage rates. The ultimate goal is to raise this number to 10.10 by January of 2017.

The issue of raising the minimum wage is one that continues to develop every year, and is an issue that Congress and Washington have been trying to come to an agreement on. President Obama has been trying to raise the federal wage to 10.10 for some time now, but Congress dismisses his efforts.

U.S Business owners have also been opposing the recent stride for change because that would mean they would be losing more money because they have to pay their workers more and their payroll will be higher as a result.

As the economy changes, the demand for more money changes as well, this minimum wage still seems low to many, but millions of people rely on this federal wage to feed families and themselves. This number needs to continuously fluctuate because the United States needs to assure its citizens have the opportunity to survive and make a living.

 

 


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