10 Million Minimum-Wage Workers Are Getting a Raise Next Week — Here’s How to Know if You Made the Cut

On Jan. 1, 2024, 22 states will be raising their minimum wage.

The minimum wage increase will affect 9.9 million workers, according to an Economic Policy Institute report. The increase will equate to just under $7 billion.

The federal minimum wage, which was last changed in 2009, is $7.25 an hour, a figure economists argue does not match the cost of living increases Americans have faced in recent years.

According to an inflation calculator from the Bureau of Labor Statistics, the dollar has depreciated in value by approximately 30% since 2009.

The EPI has a map that shows specific increases by state.

Minimum wage increases will occur for workers who live in the following states: Maine, Vermont, Washington, Montana, Minnesota, Illinois, Michigan, New York, Rhode Island, South Dakota, Ohio, New Jersey, Connecticut, California, Colorado, Nebraska, Maryland, Delaware, Arizona, Alaska, and Hawaii.

Some cities are also individually raising their minimum wage. Boulder, for instance, will have a minimum wage over $18 an hour, while Colorado's will stand at around $14 an hour.

The highest statewide increase will be in Washington, which will have a $16.28-an-hour minimum wage. California will also have a $16-an-hour minimum wage.

The states that continue to use $7.25 as their minimum wage are mainly southern states like Tennessee, Mississippi, and Alabama.