Washington Times · Dec 29, 2022
26 states plan to raise minimum wage in 2023
Activists appeal for a $15 minimum wage near the Capitol in Washington, Thursday, Feb. 25, 2021. According to the Economic Policy Institute, the federal minimum wage in 2021 was worth 34% less than in 1968, when its purchasing power peaked. ...Hourly workers in 26 states will see minimum wage hikes in 2023 — but financial analysts say the increases are lagging behind inflation and could worsen unemployment in a recession.
Half the states that have announced increases tie them annually to inflation, and some cap them “to protect against big jumps,” accounting firm Wolters Kluwer reported in an analysis.