Prices rise as the minimum wage increases in several states

A well-earned wage hike N.Y. finally gets a $15 minimum

It is a good start to the New Year for South Dakotans who work for minimum wage.

According to the Labor Ministry, hours of paid rest were originally included in the working hours when calculating the minimum wage when the paid rest system was implemented in 1988.

In addition, 13 cities and counties are hiking their minimum wages to $15 an hour or higher in the new year, the nonprofit says.

In Arkansas and Missouri, voters this fall approved ballot initiatives raising the minimum wage after state legislators did not.

Policy Matters Ohio, a liberal think tank based in Cleveland, calculates that the new minimum wage will be worth about 72 percent of what the federal minimum wage was worth in 1968. The federal minimum wage is $7.25 an hour.

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All told, come December 31 or January 1, 20 states and 23 localities nationwide will hike the minimum wage.

Up until a few decades ago, many economists anxious that raising the minimum wage would lead to employers hiring fewer workers.

Meanwhile, the government made a decision to include the regularly paid bonuses surpassing 25 percent of the minimum wage and welfare benefits exceeding 7 percent of it in the calculation of basic wages from Tuesday, as part of efforts to ease the financial burden of employers.

Despite the national movement to raise wages for low-income workers, the state minimum wage is vastly different across the country. Eighteen other states will also see their minimum wage rise on January 1 as a result of previously approved legislation or inflation adjustments to their states' minimum wages. Few are there yet, but many states have ratcheted up wages through phased-in laws and adjustments for inflation. The federal wage has been the same since 2009. Since they still have six months to go, they're taking their time and haven't yet decided what the new minimum wage will be.

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