MJP –
Paychecks for those receiving the federal minimum wage are likely to increase in size once again.
As a result of an amendment that Floridians approved in 2020, the state’s minimum wage will be increasing for the fourth consecutive month this month. The amendment increased the state’s minimum wage from $8.65 per hour to $10 per hour in 2021 and then another dollar per year until it reached $15 per hour for non-tipped workers and $10.98 per hour for tipped workers.
It has been $7.25 per hour since 2009 that the federal minimum wage has been in effect. Tip workers are required to earn at least $2.13 per hour.
As of the year 2024, what is the minimum wage in the Sunshine State?
The minimum wage in Florida is $12 per hour for workers who do not receive tips, and $8.98 per hour for those who do receive tips.
Workers who do not receive tips will be required to pay $13 per hour after this year’s increase, while those who do will be paid $9.98 per hour.
When is the next scheduled increase to Florida’s minimum wage?
On September 30, 2024, and again in 2025 and 2026, the minimum wage rates will increase for all employees, regardless of whether they receive tips or not.
Does Florida have a $15 minimum wage?
It won’t be until 2026.
In what states is the minimum wage the highest?
Several states’ minimum wages have been raised recently. The following amounts are the nation’s highest minimum wages as of right now, as reported by the United States Department of Labor:
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Price per hour in Washington D.C.: $17.50
Hourly wage in Washington state: $16.28
Sixteen dollars per hour in the Golden State
New York (including the five boroughs of Manhattan, Nassau, Suffolk, and Westchester): $16 per hour
Earn $15.95 per hour in Oregon (Portland Metro region)
Massachusetts: $15.69 per hour
Rates in New Jersey: $15.13 per hour
Salaries of $15 per hour in New York, Massachusetts, and Maryland
Where does the United States’ lowest minimum wage stand?
For all occupations governed by the Fair Labor Standards Act, twenty states are required to pay the federal minimum wage of $7.25 per hour. For unclassified occupations, such as: some states permit lower minimum pay
Pay rate in Georgia: $5.15 the hour
For businesses in Montana with annual revenue below $110,000, the minimum wage is $4 per hour.
Businesses in Oklahoma that have less than ten employees or annual revenue of less than $100,000 are required to pay $2 per hour.
No state minimum wage is in place in Alabama, Kansas, Louisiana, Mississippi, South Carolina, Tennessee, Texas, Utah, and Wyoming. While the Fair Labor Standards Act (FLSA) requires $7.25 per hour for covered employment, it does not impose a minimum wage for non-covered occupations. Employers with four or more employees are the only ones eligible for Nebraska’s $12 per hour.
Not taxing tips is one issue on which Trump and Harris agree. A possible effect on the finances is shown here.
What states have plans to increase their minimum wage in 2024?
The minimum wage was increased in twenty-two states as of January 1, 2024, and in the same year, three more states—Florida, Nevada, and Oregon—will do the same.
Where employees are being given pay increases: In 2024, the minimum wage will be increased in 25 states.
The question is, what will happen when the minimum wage in Florida reaches $15?
Raising the minimum wage to reflect the cost of living was the stated goal of the amendment. Once it hits $15, the state will go back to how it used to calculate CPI-based cost-of-living adjustments.
What does Florida’s livable wage look like?
A living wage, in contrast to the minimum wage, attempts to determine the hourly pay that an individual needs to earn to afford housing, daycare, health care, food, and other requirements based on their location.
According to the MIT living wage calculator, in 2024, a single adult in Florida would need $22.43 per month to get by, while a family of four would need $45.36 per month, $58.76 per month, and so on.
Making ends meet? To make ends meet in Florida, you’ll need to work these many hours per week.
Without tips, how much money does a Florida-tipped worker make?
The Fair Labor Standards Act (FLSA) states that employers who rely on tips to cover payroll must pay their workers at least the minimum wage, plus an additional sum equal to three and a half cents per hour. Employers are required to pay a rate that is $3.02 less than the minimum wage.
With tips, the bare minimum wage in Florida is $8.98 per hour, which is below the state’s $12 minimum wage. Until both reach $15 per hour for non-tipped workers and $11.98 per hour for tipped workers, they will increase by $1 each.
Are all Florida businesses required to pay the minimum wage?
No, the federal minimum wage law allows for exclusions in some occupations and conditions where employees may be paid less. Some examples of these are:
- Professionals, managers, and executives
- Salespeople who work on commission
- Workers on farms
- Service industry employees (seasonal or recreational)
- Delivery persons for newspapers
- Teams of federal criminal investigators
- Informal workers such as babysitters
- Underage people in specific situations
- Volunteers from the student body
Workers with disabilities if their employer possesses a Department of Labor certificate that permits it (an initiative aimed at incentivizing more firms to recruit individuals with impairments).
Among others, organizations seeking an exception are those in the nonprofit or educational sectors.
Workers for companies with a yearly revenue of less than $500,000.
When was the last time Florida’s minimum wage was?
The Fair Labor Standards Act (FLSA) of 1938, signed into law by President Franklin D. Roosevelt, established a federal minimum salary of 25 cents per hour, outlawed the exploitation of children in the workplace, and limited the number of hours an employee could work in a week to 44.
At the same time, Florida’s minimum wage was linked to the federal minimum wage. To raise the minimum wage in Florida above the federal level, voters there approved Amendment 5 in 2005. Afterward, Florida began paying its minimum wage employees more than the federal minimum.
Amendment 5 raised the minimum wage for non-tipped workers to $6.15 per hour, one dollar higher than the federal minimum. It also mandated that the Department of Economic Opportunity determine the state’s adjusted minimum wage rate using the Consumer Price Index for Urban Wage Earners and Clerical Workers for the twelve months preceding September 1st, as an indicator of inflation. Several increases have occurred since:
- $5.15/hr. increased in 2005.
- Increased to $6.40 per hour in 2006
- 2008: Paid $7.21 per hour
- 2009: Paid $7.25 per hour
- 2016: Raise to $8.05/hr after 6 years
- Increased to $8.10 per hour in 2017
- Increased to $8.25 per hour in 2018
- Raised to $8.45 per hour in 2019
- 2021: Raised to $10/hr to comply with amendment regulations
- in 2022: up to $11 per hour
- Increased to $12 per hour in 2023
