Florida’s minimum wage increases
Florida’s minimum wage is set to increase by a dollar on Tuesday, rising from $13 to $14 an hour. The bump is part of a series of incremental increases approved by voters in 2020 under Amendment 2.Since 2022, the state’s minimum wage has increased by $1 each year and is set to reach $15 an hour in September 2026. Workers earning minimum wage and working 40 hours per week will see an additional $2,080 annually from this year’s increase.Chris Jones, president of Florida Economic Advisors, says while the raises help workers bring in more money, they also come with challenges.“Florida’s no longer a cheap state to live in, and a lot of that has to do with the price of real estate and the price you have to pay workers,” Jones said.Jones noted that higher wages can encourage businesses to explore alternatives, like automation, and contribute to an overall higher cost of living.“It’s a chicken-and-egg effect that works both ways. Because when you raise the minimum wage, it becomes more expensive to live in that state,” he said.Nationally, Florida’s minimum wage trails behind some of the highest in the country. Washington, D.C., leads with $17.95 per hour, followed by Washington state at $16.66, and California and New York at $16.50.Jones believes Florida’s wage will eventually surpass $15 an hour, but says it will take time. He encourages workers to pursue additional training and skills to help them move beyond government-mandated increases.The final scheduled increase under Amendment 2 will take effect on September 30, 2026, raising the wage to $15 per hour.
Florida’s minimum wage is set to increase by a dollar on Tuesday, rising from $13 to $14 an hour.
The bump is part of a series of incremental increases approved by voters in 2020 under Amendment 2.
Since 2022, the state’s minimum wage has increased by $1 each year and is set to reach $15 an hour in September 2026. Workers earning minimum wage and working 40 hours per week will see an additional $2,080 annually from this year’s increase.
Chris Jones, president of Florida Economic Advisors, says while the raises help workers bring in more money, they also come with challenges.
“Florida’s no longer a cheap state to live in, and a lot of that has to do with the price of real estate and the price you have to pay workers,” Jones said.
Jones noted that higher wages can encourage businesses to explore alternatives, like automation, and contribute to an overall higher cost of living.
“It’s a chicken-and-egg effect that works both ways. Because when you raise the minimum wage, it becomes more expensive to live in that state,” he said.
Nationally, Florida’s minimum wage trails behind some of the highest in the country. Washington, D.C., leads with $17.95 per hour, followed by Washington state at $16.66, and California and New York at $16.50.
Jones believes Florida’s wage will eventually surpass $15 an hour, but says it will take time. He encourages workers to pursue additional training and skills to help them move beyond government-mandated increases.
The final scheduled increase under Amendment 2 will take effect on September 30, 2026, raising the wage to $15 per hour.