The minimum wage is the shield that saves employees from getting exploited and helps employees adjust their expenses with the increasing inflation rate. This amount increases every year so that employees can balance their increasing living costs.
However, different states have different minimum wages, and all the employers in those states are required to pay this amount to workers in exchange for their work hours.
So, if you want to have an overall knowledge of the minimum wage offered by different states, thoroughly read this article. You will get all the information in one place.
Minimum Wage by State in 2022 vs. 2023
The majority of the states in the United States increase their minimum wage rate every year. And this will be the case in 2023 too. So let’s see the minimum wage offered in 2022 and what it will be in 2023.
Which States are Increasing the Minimum Wage in 2023?
As of now, In 2023, 23 states will be raising their minimum wage. The states are as follows:
- New Jersey
- New Mexico
- New York
- Rhode Island
- South Dakota
- West Virginia
In most of these states, the minimum wage will increase on January 1, 2023.
Which State has the Lowest and Highest Minimum Wage?
Georgia and Wyoming have the lowest minimum wages, both at $5.15. However, businesses in Georgia and Wyoming that are subject to the Fair Labor Standards Act are still required to pay employees the $7.25 federal minimum wage.
When it comes to the minimum wage rate for businesses with 26 or more employees, California has the highest, at $ 15. Otherwise, in California, employers with less than 26 employees pay $14 as the minimum wage. However, in terms of states that have similar minimum wages for all the companies, Washington has the highest minimum wage, which is $15.49.
In 2023, among all the states, four states will offer the highest minimum wage for all employees:
- Washington ( $15.74)
- California ($15.5)
- Connecticut ($14)
- Massachusetts ($15)
Comparison of Federal Minimum Wage Rates with All States
As of October 1, 2022, 31 states have a higher minimum wage than the federal government, 14 have the same minimum wage as the federal government, 2 have a lower minimum wage than the federal government, and 5 have no minimum wage rate. The states are listed in the table below.
Minimum Wage History by State
See the below table to comprehend how different stages have increased their rates of minimum wage over the year. All of this information has been collected from the Department of Labor.