4 States Vote to Increase Minimum Wage

The national minimum wage is currently $7.25 an hour and hasn’t changed in seven years, but four states voted to approve ballot measures to increase their minimum wage. ABC News projected the following:

1. Arizona will incrementally increase its state minimum wage from $8.05 an hour to $12 an hour by 2020, according to Proposition 206.
2. Colorado will incrementally increase its state minimum wage from $8.31 an hour to $12 an hour by 2020, according to Amendment 70.
3. Maine will incrementally increase its state minimum wage from $7.50 an hour to $12 an hour by 2020, according to Question 4.
4. Washington will incrementally increase its state minimum wage from $9.47 an hour to $13.50 by 2020, according to Initiative 1433.

Total Retail’s Take: Retailers and other employers will now see labor costs go up in these four states. This may result in smaller businesses laying off employees to save their bottom lines. President-elect Donald Trump has voiced support for a federal minimum wage hike, so this may be the beginning of a nationwide wage increase — despite the objections of many retailers.