Florida Workers to Receive Another Minimum Wage Increase in 2024: How Much Will it Be?

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Great news for the working class of Florida as another wage increase is set to take effect in 2024, following the 2023 increase established by Amendment 2. The minimum payment per hour of work is expected to rise to $13 in 2024.

Currently, the federal minimum wage stands at $7.50 an hour, a rate that has remained unchanged for over a decade. However, individual states have the authority to legislate their own minimum wages. Due to the high cost of living and a relatively low minimum wage in Florida, citizens voted in favor of Amendment 2 during the November 2020 elections. This amendment aims to gradually increase the minimum wage in the state through 2026.

In 2021, Florida’s minimum wage was $8.65 an hour. With the implementation of Amendment 2, it is estimated that up to 2.5 million workers, a quarter of Florida’s workforce, will witness an increase in their wages, particularly in the food service, lodging, and retail industries.

The wage increases in Florida will follow a gradual scale until 2026. Starting from September 30, 2022, the minimum wage will increase by $1 each year until it reaches $15 per hour on September 30, 2026. However, some businesses have expressed concerns about the impact of these increases, especially considering the economic effects of the ongoing pandemic.

Furthermore, from 2027 onwards, the minimum wage in Florida will be adjusted annually based on the inflation index in the country. This adjustment will ensure that wages keep pace with changes in the cost of living.

Employers who fail to comply with the minimum wage adjustment face legal consequences. If an employee does not receive the legal minimum wage even after notifying their employer and allowing 15 days to resolve the issue, they have the right to bring a civil action against the employer to recover back wages, damages, and attorneys’ fees.

In addition to Florida, several other states in the United States have increased their minimum hourly wages. For example, Alaska, Arizona, California, Colorado, South Dakota, Delaware, Illinois, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Jersey, New Mexico, New York, Ohio, Rhode Island, Vermont, Virginia, and Washington have all implemented minimum wage hikes. Each state has set its own rates, with some reaching up to $15 per hour.

These increases aim to provide workers with a better standard of living and ensure fair compensation for their labor. However, debates continue regarding the balance between supporting workers and the potential impact on businesses, especially in the wake of the ongoing pandemic.