McDonald’s franchise owner Scott Rodrick says his company has faced cost pressure since California’s minimum wage increase aimed at fast-food franchises on Wall Street, where Maria Bartiromo is based.
Nearly half of U.S. states are planning minimum wage increases on January 1, 2025, which will result in an increase in the minimum wage. salary increase for some 9.2 million workers, according to recent data.
An analysis from the Economic Policy Institute indicates that 21 states will raise their minimum wages at the start of the year, along with 48 cities and counties that will raise their wage floors above their respective minimums – mostly. in CaliforniaColorado and Washington.
An employee fills a bag of fries at a branch of the McDonald’s fast food chain. California raised its minimum wage for fast food workers to $20 this year. In 2025, the minimum wage for other state workers will be increased to $16.50. (Matthias Balk/photo alliance via Getty Images / Getty Images)
Here are the states that will boost their minimum wage on the first of the year, and how much workers will be paid:
Alaska: $11.91
Arizona: $14.70
California: $16.50
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Colorado: $14.81
Connecticut: $16.35
Delaware: $15
Illinois: $15
Maine: $14.65
Celebrity chef and restaurant owner Andrew Gruel joins “The Big Money Show” to discuss California’s minimum wage law and its impact on the food and restaurant industry.
Michigan: $10.56
Minnesota: $11.13
Missouri: $13.75
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Montana: $10.55
Nebraska: $13.50
New Jersey: $15.49
New York: $15.50 ($16.50 to New York CityLong Island and Westchester)
The minimum wage is raised to $15.50 in New York State, but it will be a dollar higher in New York, Long Island and Westchester. (iStock/iStock)
Ohio: $10.70
Rhode Island: $15
South Dakota: $11.50
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