States may raise their minimum wage in 2022, increasing the incomes of millions of American workers. National Employment Law Project (NELP) reports that minimum wages will increase in 21 states and 35 cities and counties on or around New Year’s Day. According to the announcement, hourly wages will increase to at least $15 an hour in 33 of the regions, including California and New York.
During 2022, there will be an additional hike in the minimum wage in 4 more states and 22 more local jurisdictions. These regions include areas in Illinois, Maryland, and Minnesota, with 17 of these areas going to $15 an hour or higher.
The study forecasts that 2 states and 47 cities and counties will reach the $15 minimum wage by the end of 2022. Wages may increase in these regions due to the latest COLA adjustments.
Annual cost-of-living adjustments, along with other scheduled gains, led wages for workers nationwide to jump by pennies per dollar at the start of 2021: Alaska, Arizona, Arkansas, California, Colorado, Florida, Illinois, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, New Jersey, New Mexico, New York, Ohio, South Dakota, Vermont, and Washington.
As part of a statewide wage order enacted in 2016, New York will set a minimum wage of $15 for fast-food workers in 2021.
These wage hikes could help alleviate the labor shortage in the foodservice and retail industries and boost consumer spending across the nation.
The number of people quitting their jobs is at an all-time high, which makes labor shortages a bigger problem for retailers during the holiday season.
Consequently, a number of retailers have increased their earnings and benefits in a bid to lure and retain workers – perhaps as well as to encourage them to return to work during the COVID-19 pandemic. Other stores, on the other hand, have increased wages in line with previously announced plans.