MoneyAs of July 2009, the federal minimum wage has been $7.25.  However, come 2014, at least 13 states will be raising their state minimum wages. In the lead is Washington state, with a minimum wage of $9.32 per hour.   Among the cities and counties who will raise their minimum wages, SeaTac, Washington is the top contender with a possible minimum wage of $15.00!

Some States,Cities and Counties Will Increase Their Minimum Wages Soon

According to Huffington Post, the following states, cities and counties will increase their minimum wages:

  • Arizona: $7.80 to $7.90
  • Colorado: $7.78 to $8.00
  • Connecticut: $8.25 to $8.70
  • Florida: $7.79 to $7.93
  • Missouri: $7.35 to $7.50
  • Montana: $7.80 to $7.90
  • New Jersey: $7.25 to $8.25
  • New York: $7.25 to $8.00
  • Ohio: $7.85 to $7.95
  • Oregon: $8.95 to $9.10
  • Rhode Island: $7.75 to $8.00
  • Vermont: $8.60 to $8.73
  • Washington State: $9.19 to $9.32
  • Albuquerque, N.M.: $8.50 to $8.60
  • Bernalillo County, N.M.: $8.00 to $8.50
  • San Francisco, Calif.: $10.55 to $10.74
  • San Jose, Calif.: $10.00 to $10.15
  • SeaTac, Wash.: $9.19 to $15.00

What Are Minimum Wages and Who Sets Minimum Wages?

Minimum wages are the lowest amount of money that can legally be paid to an employer.  No set formula determines the minimum wage.  Instead, a committee of legislators and economists calculate it by taking into account the state of the national economy and the cost of living.  The federal government is not the only government entity that sets minimum wages.  State governments may also establish state minimum wages.  If an employee is subject to both the federal and state minimum wages, he or she is entitled to receive whichever is higher.

Click to learn more about minimum wage laws.