California made headlines on Saturday, as lawmakers voted to raise the minimum wage to $15 per hour. But, it is going to be a while before anyone actually sees a raise to fifteen bucks.
The current minimum wage, which is $10 per hour, will only rise 50 cents in the next year – then in small increments over the next six years. Via LA Times:
According to a document obtained by The Times, the negotiated deal would boost California’s statewide minimum wage from $10 an hour to $10.50 on Jan. 1, 2017, with a 50-cent increase in 2018 and then $1-per-year increases through 2022. Businesses with fewer than 25 employees would have an extra year to comply, delaying their workers receiving a $15 hourly wage until 2023.
The $15 per hour minimum wage would be the highest of any state in the country – provided another state does not raise theirs before then.
