The New Year Will Bring A Rise In Minimum Wage For Many States

Inc. com reports that several states will be raising its minimum wage above the federal minimum in 2005. Small business advocates argue that this will hurt the hiring rate thereby hurting the economy.

The states that will be raising its minimum wage above the federal minimum of $5.15 per hour include: Illinois ($6.50 per hour); Oregon ($7.25 per hour); Vermont ($7 per hour); Washington ($7.35 per hour- the highest in the nation); Florida ($6.15 per hour); and Maine ($6.50 per hour). Also, NY and Nevada recently approved state minimum wage increases that will top out at $7.15 and $6.15 respectively.

Many experts believe this trend will continue to more states since the federal minimum wage is well below the poverty line for a married couple or family.