The High Cost of Wage Floors for Employees

Across the United States, about half of all states raised their minimum wages in 2024. Most of those increases went into effect on January 1, while minimum wage hikes also went into effect in Nevada, Oregon, the District of Columbia and various localities on July 1. But the mandated pay increases aren’t necessarily good news. In particular, the recent wage hikes could deliver the most unintended consequences to the very people they most seek to help. Read Full Article »