Wolters Kluwer review finds more U.S. states approaching $15 minimum wage

More states could see measures to increase the minimum wage on 2024 ballots

NEW YORK, Jan. 10, 2024 /PRNewswire/ -- A comprehensive review of recent legislative updates conducted by payroll experts at Wolters Kluwer Legal & Regulatory U.S. finds that a series of moderate increases to the minimum wage are unfolding this year in 24 states across the U.S. While the number of states adopting a $15 minimum wage is poised to grow, Washington continues to hold the highest state minimum wage in the nation at $16.28. More information from Wolters Kluwer Legal & Regulatory U.S.' review of upcoming state minimum wage increases can be found on its legal research platform VitalLaw®.

"The increases in state minimum wages are mostly moderate in 2024, and are occurring in states that regularly see an annual adjustment," said Deirdre Kennedy, Senior Payroll Analyst at Wolters Kluwer Legal & Regulatory U.S. "In addition to the states that tie their increases to the Consumer Price Index and states that already have incremental increases scheduled, we may be seeing future increases in a number of states that have ballot initiatives in the works for 2024."

Key takeaways from the review of recently enacted minimum wage changes include:

• As of 2024, eight states and the District of Columbia have a minimum wage of $15.00 per hour or higher. Other states on track to reach the $15.00 per hour mark by 2025 include Delaware, Illinois and Rhode Island.
  
  
• Pursuant to legislation signed in 2022, Hawaii's minimum wage is set to increase by $2 increments every other year until it reaches $18.00 per hour in 2028.
  
  
• As of January 1, 2024, workers on federal contracts that were initiated, renewed, or extended on or after January 30, 2022 will earn a minimum of $17.20 per hour in accordance with Executive Order 14026. Meanwhile, workers on earlier federal contracts will see an increase to $12.90 per hour in accordance with 2024 Executive Order 13658.
  
  
• Alaska, California, Massachusetts, Michigan, Ohio and Oklahoma could all see measures to increase minimum wage on their ballots in 2024.

With more than 25,000 pieces of practical content and data visualization tools, VitalLaw® empowers attorneys with access to expert analysis, authoritative content, and easy to use practice tools that aid in better understanding the many complexities of day-to-day legal practice.

About Wolters Kluwer
Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software, and services for professionals in healthcare, tax and accounting, financial and corporate compliance, legal and regulatory, and corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services.

Wolters Kluwer reported 2022 annual revenues of €5.5 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 20,900 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

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SOURCE Wolters Kluwer Legal & Regulatory U.S.