Minimum wage news latest

Here are the latest news and updates on minimum wage:

United States:

• On January 1, 2022, the federal minimum wage in the United States increased from $7.25 to $7.25 per hour, as required by the Fair Labor Standards Act (FLSA). However, some states and cities have higher minimum wages.
• In March 2022, the Biden administration proposed a new minimum wage of $15 per hour for federal contractors, which would affect over 400,000 workers.
• In April 2022, a bill was introduced in Congress to raise the federal minimum wage to $15 per hour by 2025.

State and Local Minimum Wage Updates:

• California: The minimum wage in California increased to $15.50 per hour on January 1, 2022, for employers with 26 or more employees.
• New York: The minimum wage in New York increased to $14.20 per hour on December 31, 2021, for employers with 11 or more employees.
• Florida: The minimum wage in Florida increased to $10.00 per hour on January 1, 2022.
• Seattle, Washington: The minimum wage in Seattle increased to $16.39 per hour on January 1, 2022.

International Minimum Wage Updates:

• Canada: The minimum wage in Ontario, Canada, increased to $15.00 per hour on January 1, 2022.
• United Kingdom: The minimum wage in the UK increased to £9.50 per hour (approximately $12.50 USD) on April 1, 2022.
• Australia: The minimum wage in Australia increased to AU$20.33 per hour (approximately $14.50 USD) on July 1, 2022.

Minimum Wage Proposals and Debates:

• In the United States, there is ongoing debate about the impact of a $15 minimum wage on small businesses and the economy.
• In the UK, there are proposals to increase the minimum wage to £10.50 per hour (approximately $14.00 USD) by 2024.
• In Australia, there are proposals to increase the minimum wage to AU$22.00 per hour (approximately $15.50 USD) by 2025.

Minimum Wage and Inflation:

• The Federal Reserve has warned that a $15 minimum wage could lead to higher inflation and unemployment.
• Some economists argue that a higher minimum wage could actually help reduce poverty and inequality, as it would give low-wage workers more purchasing power and help stimulate economic growth.

These are just a few of the latest news and updates on minimum wage. If you're looking for more information, I can try to help you with that!