The good news is the minimum wage went up to $9 an hour and even over that amount in some cases. The bad news is that it’s hard to find a job to reap the benefits of the higher hourly wage, according to CBS News. On New Year’s Day seven states automatically adjusted the minimum wage salaries to keep up with the nation’s inflation, with Washington raising their minimum wage to over $9, according to Reuters.
On New Year's Day the wage increase took hold in Arizona, Colorado, Florida, Montana, Ohio, Oregon, Vermont and Washington. Based on a 2,000 hour work year, this will grant minimum wage earners annual salaries of between $15,280 and $18,080.
Connecticut is one state that didn't see their minimum wage go to $9, they will stay at the $8.25 an hour. The states that were awarded the minimum wage raise are states that automatically adjust their wages every year to keep up with inflation, according to the Harford Courant.
With Connecticut being at the top of the list as one of the most expensive states to live in, the minimum wage going up to $9 an hour is a necessity. At 75 cents more an hour, Connecticut minimum wage earners who work full-time would earn enough for an extra month’s rent or mortgage payment in their yearly income if they saw a raise to $9 an hour.
While the new minimum wage raise in some states sounds good, jobs are still hard to come by according to CBS News. While the beginning of 2011 looked as if things were getting better on the job front, the latest figures from November show the jobs were down at end of 2011. The minimum wage hike is like dangling a carrot in front of the unemployed. While the wage increase is good, if the unemployed can only get to it by securing a job, this would be cause for a celebration!
Reference: CBS News, Reuters, Hartford Courant
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