The minimum wage is set to increase in 22 states on Jan. 1, 2024.

Why it matters: For Americans making minimum wage, it’s an automatic raise — but it also ripples out. Typically, increasing the wage floor for the lowest earners pushes up pay for those who make a bit more than the minimum, as employers have to adjust pay scales upwards.

The big picture: More states are requiring a $15 an hour minimum wage — including New York, Maryland, and New Mexico — a dozen years after Fight for $15 kicked off its campaign.

  • Thanks to inflation, the dollar amount doesn’t quite mean what it used to.

Zoom in: In 13 states wages are going up because they’re indexed to inflation, including CaliforniaOhio and South Dakota.

  • Three more states and Washington, D.C., are set to raise the wage later in the year.
  • The last time the federal minimum wage ($7.25) was increased was in 2009.
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