Florida’s Minimum Wages Increasing January 1, 2012
As of January 1,Florida’s Minimum Wage will increase from the current $7.31 to $7.67 – $14.40 more for a 40 hour work week, reports the Department of Economic Opportunity. This increase is mandated by the Florida Constitution to offset an increased cost of living. This follows on the heels of a $.06 per hour increase last June.
Tipped workers will also see an increase from the current $4.29 to $4.65.
While some argue that raising the minimum wage could hurt job creation in a state already dealing with over 10% unemployment, in 2004 Floridians approved an amendment requiring minimum wage to keep pace with the cost of living.
“With staggering unemployment and slow job creation combining to depress wages, these modest annual minimum wage increases are one of the few policies that counteract downward pressure on wages and prevent the lowest wage earners from falling even further behind,” said Christine Owens, executive director of the National Employment Law Project. “By putting more money into the pockets of these workers, who spend every penny they earn on basic necessities in their local businesses, raising wages for the lowest-paid workers will help sustain consumer spending and spur economic recovery.”