Arizona and 21 other states are set to witness a rise in the minimum wage starting Monday, with additional increases planned later in 2024 for Nevada, Oregon, Florida, and the District of Columbia, as reported by Business for a Fair Minimum Wage.
Following the new year, Washington and California will lead the states with the highest minimum wages, reaching $16.28 and $16 per hour, respectively. The District of Columbia currently holds the highest minimum wage at $17.
Numerous companies nationwide support an increase in the minimum wage, emphasizing the positive impacts on consumer spending and employee well-being.
Holly Sklar, CEO of Business for a Fair Minimum Wage, expressed the benefits of minimum wage hikes in a press release, stating, “Minimum wage increases are a great way to start the new year. They help workers put food on the table and keep a roof overhead, and they boost the consumer spending that businesses depend on.”
Sklar highlighted that fairer wages aid businesses in hiring and retaining employees, leading to better customer service and increased customer loyalty.
“While the federal minimum wage falls further and further behind the cost of living at just $7.25 an hour, state increases are vital for workers, businesses, and communities,” Sklar emphasized.
In Arizona, the minimum wage is set to rise to $14.35, marking a 50-cent increase from the current $13.85. This adjustment is attributed to a 3.7% inflation increase from August 2022 to August 2023, according to the Industrial Commission of Arizona. The 2022 minimum wage in Arizona was $12.80, making this jump the most substantial since 2017.
Certain Arizona cities, such as Flagstaff, maintain their own minimum wage standards. In Flagstaff, the minimum wage will increase to $17.40 per hour from $16.80 per hour starting Monday.
Pete Turner, owner of Illegal Pete’s Restaurants in Colorado and Arizona, welcomed the minimum wage increases, noting their positive impact on employee hiring, retention, and overall business performance.
Despite these state-level increases, the federal minimum wage remains at $7.25, unchanged since July 24, 2009. Twenty states still adhere to this federal minimum wage, marking the longest period without an increase in history.
