Starting from January 2022, 21 US states and 35 cities and counties will increase the minimum wage limit to $15.00. And in 33 jurisdictions, the wages will exceed $15.00 per hour for some or all workers.
In fact, 4 additional states and 22 local jurisdictions will lift their minimum wage limit in the upcoming year, whereas 17 plan to go over $15.00 per hour.
At the same time, 81 jurisdictions, i.e., 25 states and 56 municipalities, plan to raise their minimum wage threshold before the end of the upcoming year, which will undoubtedly improve the credit card scores of many US employees.
For example, the base hourly pay will go up in Illinois (from $11.00 to $12.00), Delaware (from $9.25 to $10.50), Virginia (from $9.50 to $11.00), and in New Jersey (from $12.00 to $13.00).
Over the next four years, California, New York, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, New Jersey, Rhode Island, and Virginia will all reach a minimum wage of $15.00, contributing to 40% of the workforce covered by a $15.00 minimum wage mandate.
Since 2009, the minimum wage threshold has been stuck at $7.25 per hour, representing the longest stretch since 1938, when it was first adopted. Moreover, the federal minimum salary for tipped employees has stood at $2.13 per hour since 1991.
On that note, several large companies, such as Walmart, Costco, Wayfair, Southwest Airlines, and Best Buy already increased their minimum wage floors to $15.00 or higher.