McDonald’s owner Scott Rodrick says his business has experienced cost pressures since California’s minimum wage increase targeted at Wall Street fast food franchises by Maria Bartiromo.
About half of US states are slated to raise the minimum wage by January 1, 2025, which will mean a raise for about 9.2 million workers, according to the latest data.
An analysis by the Economic Policy Institute says 21 states will raise their minimum wages early this year, with 48 cities and counties raising their wages above the state minimum — mostly in California, Colorado and Washington.
An employee fills a bag with French fries at a branch of the McDonald’s food chain. California raised its minimum wage for fast food workers to $20 this year. By 2025, the minimum wage for some state workers will be raised to $16.50. (Matthias Balk / photo alliance via Getty Images / Getty Images)
Here are the states that will raise their minimum wages at the beginning of the year, and how much workers will be paid:
Alaska: $11.91
Arizona: $14.70
California: $16.50
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Colorado: $14.81
Connecticut: $16.35
Delaware: $15
Illinois: $15
Maine: $14.65
Celebrity chef and restaurateur Andrew Gruel joins ‘The Big Money Show’ to discuss California’s minimum wage law and its impact on the food and restaurant industry.
Michigan: $10.56
Minnesota: $11.13
Missouri: $13.75
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Montana: $10.55
Nebraska: $13.50
New Jersey: $15.49
New York: $15.50 ($16.50 in New York City, Long Island and Westchester)
The minimum wage is being raised to $15.50 in New York state, but will be a dollar higher in New York City, Long Island and Westchester. (iStock / Stock)
Ohio: $10.70
Rhode Island: $15
South Dakota: $11.50
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