Minimum Wage Will Increase In Several States Next Year
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Minimum wages are slotted to increase at the start of 2017 in 20 states, giving about 4.4 million low-income workers an income boost as the national argument continues.
In California the minimum wage will go up 50 cents, reaching $10.50 an hour and impacting 1.7 million workers, and in Massachusetts wages will rise $1 to $11 an hour, boosting the income of 291,000 people, the Wall Street Journal reports. Wages are also rising in Arizona, Arkansas, Michigan and Ohio.
Economists and policy makers are still arguing about the merits of raising minimum wage—on the one hand higher wages put more money into the hands of working people, while on the other it makes it more expensive for companies to operate and could lead to a loss of jobs. [WSJ]