california minimum wage

Labor costs just shot way up in the states of California and New York. California Governor Jerry Brown signed legislation Monday that will raise the minimum wage in the state to $15 an hour.

Similar legislation was signed in New York the same day.

California legislators and labor unions negotiated a few weeks ago to broker an agreement which allowed the legislation to move forward.

California already had one of the highest minimum wages in the country at $10 per hour, along with Massachusetts. Only Washington, D.C., at $10.50 an hour is currently higher.

Specifics of the California Minimum Wage Raise

Legislators did not confirm the specifics of the agreement, but leaders have said the minimum wage would increase gradually, reaching $15 by 2022.

After 2022 wages would rise with inflation and the governor would have the option to delay increases in tough economic times.

Major cities across the country like Seattle and New York City have also recently enacted similar minimum wage

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Source: Small Business Trends