Minimum Wage Goes Up in 10 States

Increase will amount to an extra $510 dollars per year for some workers

Wealthy Americans aren’t the only ones who will see an increase in 2013. For minimum wage workers it’s an increase of a different kind; 10 states have increased their minimum wage rates by 10 to 35 cents per hour, booting the incomes of nearly 1 million low-wage U.S. employees. The increase puts any where between $190 and $510 extra per year into the pockets of the average minimum-wage worker, according to analysis by the National Employment Law Project. The new rates went into effect on Tuesday in Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Rhode Island, Vermont and Washington. The federal minimum wage is $7.25 per hour or $15,000 per year for a full-time minimum wage earner. As of Jan. 1, 19 states and the District of Columbia have minimum wage rates above the federal level. (Reuters)

[SUBSCRIBE TO LOOP 21 RSS FEED]