what will national minimum wage be in 2024

what will national minimum wage be in 2024

1 year ago 87
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According to the search results, the national minimum wage for 2024 is not a fixed amount and varies depending on the state. For example, in New Jersey, the minimum wage rates for 2024 will be at least $15.00 per hour, but could be higher based on the Consumer Price Index (CPI) . In New York, the minimum wage will increase to $16 in New York City and the counties of Nassau, Suffolk and Westchester, and to $15 in all other parts of the State, beginning on January 1, 2024. The minimum wage will increase by an additional $0.50 in each year in 2025 and 2026, after which the States minimum wage would increase at a rate determined by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the Northeast Region. It is important to note that the federal minimum wage is currently $7.25 per hour, but some states have set their own minimum wage rates higher than the federal rate.

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