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Moving on up
It's hard to make ends meet if you're only earning minimum wage. The federal minimum wage has been $7.25 per hour since 2009. Over a 40-hour week, it amounts to $290, which is just $15,080 per year. Putting that in perspective, it's below the federal poverty level for a household of two or more people, and is not far above the 2018 $12,140 poverty threshold for individuals. Also, inflation has totaled more than 13% since 2009, making life even harder for low earners.
Fortunately, many states and cities have set higher minimum wages for their populations. In 2018, fully 17 states will see minimum wages increase. The table below shows the growth percentages. Click through for a closer look at each of those states and their minimum wages.
ALSO READ: Will a $15 Federal Minimum Wage Really Help Low-Income Workers?
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1. Arizona
Arizona has seen its state minimum wage rise 52% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,352 to $21,840, with $1,040 of the increase happening over the past year. The new wage of $10.50 is 45% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Arizona:
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2. California
California has seen its state minimum wage rise 38% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $16,640 to $22,880, with $1,040 of the increase happening over the past year. The new wage of $11.00 is 52% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in California:
Note that the $11.00 wage above is for companies in California with 26 or more employees. Those with 25 or fewer have a minimum of $10.50. Some companies in California are upping wages, too. Wells Fargo (NYSE: WFC), for example, is raising its minimum wage to $15 per hour.
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3. Colorado
Colorado has seen its state minimum wage rise 45% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,602 to $21,216, with $1,872 of the increase happening over the past year. The new wage of $10.20 is 41% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Colorado:
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4. Florida
Florida has seen its state minimum wage rise 22% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,123 to $17,160, with $312 of the increase happening over the past year. The new wage of $8.25 is 14% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Florida:
ALSO READ: What Living on an $11 Minimum Wage Looks Like
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5. Hawaii
Hawaii has seen its state minimum wage rise 39% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,080 to $21,008, with $1,768 of the increase happening over the past year. The new wage of $10.10 is 39% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Hawaii:
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6. Maine
Maine has seen its state minimum wage rise 38% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,080 to $20,800, with $2,080 of the increase happening over the past year. The new wage of $10.00 is 38% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Maine:
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7. Maryland
Maryland has seen its state minimum wage rise 39% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,080 to $21,008, with $1,768 of the increase happening over the past year. The new wage of $10.10 is 39% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Maryland:
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8. Michigan
Michigan has seen its state minimum wage rise 25% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,392 to $19,240, with $728 of the increase happening over the past year. The new wage of $9.25 is 28% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Michigan:
ALSO READ: 20 Chains That Pay More Than Minimum Wage
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9. Minnesota
Minnesota has seen its state minimum wage rise 57% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $12,792 to $20,072, with $312 of the increase happening over the past year. The new wage of $9.65 is 33% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Minnesota:
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10. Missouri
Missouri has seen its state minimum wage rise 18% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $13,832 to $16,328, with $312 of the increase happening over the past year. The new wage of $7.85 is 8% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Missouri:
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11. Montana
Montana has seen its state minimum wage rise 27% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $13,624 to $17,264, with $312 of the increase happening over the past year. The new wage of $8.30 is 14% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Montana:
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12. New Jersey
New Jersey has seen its state minimum wage rise 20% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,872 to $17,888, with $333 of the increase happening over the past year. The new wage of $8.60 is 19% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in New Jersey:
ALSO READ: What to Do When You Get Paid Less Than Your Co-Workers
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13. New York
New York has seen its state minimum wage rise 45% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,872 to $21,632, with $1,456 of the increase happening over the past year. The new wage of $10.40 is 43% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in New York:
Note that the latest minimum wage applies to most companies in the state, but that the minimum is higher in New York City -- at $13.00 per hour for large employers and $12.00 per hour for smaller employers. Long Island and Westchester Counties have minimums of $11.00.
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14. Ohio
Ohio has seen its state minimum wage rise 19% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $14,560 to $17,264, with $312 of the increase happening over the past year. The new wage of $8.30 is 14% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Ohio:
Some companies in Ohio are hiking wages, too. (Nasdaq: FITB), based in Cincinnati, for example, is upping its hourly minimum for all workers to $15 per hour.
Some companies in Ohio are hiking wages, too. Fifth Third Bancorp (Nasdaq: FITB), based in Cincinnati, for example, is upping its hourly minimum for all workers to $15 per hour.
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15. Rhode Island
Rhode Island has seen its state minimum wage rise 36% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,392 to $21,008, with $1,040 of the increase happening over the past year. The new wage of $10.10 is 39% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Rhode Island:
Some companies in Rhode Island are hiking wages, too. (NYSE: CVS), for example, is upping its $9.00-per-hour rate for hourly workers to $11.00 per hour as of April, 2018.
Some companies in Rhode Island are hiking wages, too. CVS Health (NYSE: CVS), for example, is upping its $9.00-per-hour rate for hourly workers to $11.00 per hour as of April, 2018.
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16. Vermont
Vermont has seen its state minimum wage rise 37% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $15,974 to $21,840, with $1,040 of the increase happening over the past year. The new wage of $10.50 is 45% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Vermont:
ALSO READ: Why You Need a Raise Instead of a Bonus
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17. Washington
Washington State has seen its state minimum wage rise 43% between 2008 and 2018. That's enough to take a year of 40-hour workweeks from delivering $16,786 to $23,920, with $1,040 of the increase happening over the past year. The new wage of $11.50 is 59% higher than the national minimum wage of $7.25. Here's a table detailing recent minimum wages in Washington:
Some companies in Washington State are hiking their pay, too. Starbucks (Nasdaq: SBUX), for example, has workers around the country and globe, and is headquartered in Seattle. It's investing some $120 million in wage hikes, upping pay for hourly workers several times this year.
Selena Maranjian owns shares of Starbucks. The Motley Fool owns shares of and recommends Starbucks. The Motley Fool recommends CVS Health. The Motley Fool has a disclosure policy .
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
