11 States Raising The Minimum Wage In 2017

Analysts at Stifel published on Tuesday a deep dive in the restaurant sector and turned bearish for several reasons, one of which includes an anticipated hike in minimum wage across many states, which would pose a risk to corporate earnings.

Related Link: Stifel Expects A Recession Within 3 To 9 Months; Bearish On Restaurants

Here is a list of states that have already announced a minimum wage increase effective as of January 1, 2017:

    1. Arkansas will raise its minimum wage from $8.00 to $8.50.
    2. California will raise its minimum wage from $10.09 to $10.50 and then again to $11.06 on December 31, 2017.
    3. Connecticut will raise its minimum wage from $9.60 to $10.10.
    4. Hawaii will raise its minimum wage from $8.50 to $9.25.
    5. Massachusetts will raise its minimum wage from $10.00 to $11.00.
    6. Michigan will raise its minimum wage from $8.50 to $8.90.
    7. New York will raise its minimum wage from $9.00 to $10.39.
    8. Vermont will raise its minimum wage from $9.60 to $10.00.
    9. District of Columbia will raise its minimum wage from $11.00 to $11.50 and then again to $12.50 on December 31, 2017.
    10. Maryland will raise its minimum wage from $8.50 to $8.75 and then again to $9.25 on December 31, 2017.
    11. Minnesota will raise its minimum wage from $9.21 to $9.50.

The U.S. population as a weighted average by state will see the minimum wage rise from $9.21 to $9.50.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Posted In: Analyst ColorNewsLegalAnalyst Ratingsminimum wageMinimum Wage IncreaseStifel
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...