The New Year is off to a fruitful start for millions of Americans.
Some 5.3 million workers will be receiving higher pay starting Jan. 1 as minimum wage increases kick in for the New Year, according to an analysis released this month by the left-leaning think tank Economic Policy Institute. The EPI analyzed data from the Current Population Survey, conducted on a monthly basis by the U.S. Census Bureau.
These increases come as a result of changing polices across the U.S., including a $0.05 inflation adjustment in Alaska and a $2.00 per hour increase in New York City. It also includes the preliminary effects of ballot measures passed in Missouri and Arkansas, which will increase the minimum wage from $7.85 an hour to $12 an hour and $8.50 an hour to $11 an hour respectively by 2021. In addition to Missouri and Arkansas, states including California, Massachusetts, Arizona, Colorado, Washington, and Maine are seeing minimum wage increases as the result of past ballot legislation.
“Americans are fed up with an economy that isn’t rewarding hard work, and they’re not waiting for politicians to do something about it — they’re acting themselves,” said Jonathan Schleifer, executive director at the Fairness Project, a non-profit that promotes economically progressive ballot initiatives. “Millions of working families are getting raises because Americans came together to raise the minimum wage.”
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