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Minimum Wage: Boost up to $15.50 coming soon to some

Millions of workers are set to see an increase to their minimum wage earnings, earning a new hourly wage of $15.50 per hour.

employees working in California set to see a rise in minimum wage

Governor Gavin Newsom of California shared that the minimum wage for workers across the state would increase to $15.50.

Wages across the state vary right now depending on the employer and how big the business is.

This means workers at companies with 25 or less employees only need to be paid a minimum of $14 per hour.

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Employers with 26 and more employees need to pay $15 per hour.

Those only making $14 per hour will see a $3,000 salary increase with the minimum wage boost.

There are 16.9 million people working in California as of 2020.

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Why is minimum wage rising?

The inflation levels rising so rapidly is why California is boosting hourly wages.

The rate of inflation was 8.3% for April.

The state’s minimum wage law requires an increase whenever inflation exceeds 7%.

The new wages will go into effect in January 2023.

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