Michigan's minimum wage set to rise on New Year's Day
- Author: Ronnie Bowen Jan 01, 2018,
Jan 01, 2018, 1:25
Their pay goes up by 15 cents an hour starting today January 1.
The average FTSE 100 cmpany chief has seen an 11 percent rise in median total pay in just 2015-2016, and now earns £4.35 million per year - compared to £1.23 million when the national minimum wage was first introduced - that's an increase of 354 percent.
Of the 22 European Union member states with a minimum wage, only workers in Luxembourg (€1,999 per month) receive a higher monthly minimum wage than workers in Ireland, who take home €1,563 per month, according to the report, valid as of January 1, 2017.
People who work for smaller companies (those with less than 11 employees), will receive a $12 per hour minimum wage, an increase from their $10.50 wage.
The minimum wage is scheduled to increase each December 31 until it reaches $15 per hour as part of an effort pushed by Gov. Andrew M. Cuomo.
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Gov. Andrew Cuomo signed legislation - passed in 2016 - giving a minimum wage increase to workers employed by big businesses each year until it reaches $15 by December 31, 2018. Each year, the wage is to increase with a rate of inflation.
A group is circulating petitions to put raising Michigan's minimum wage to $12 an hour by 2022 on the November ballot. The increases were spread out over a few years to give businesses time to adjust.
"The minimum wage increase, new paid family leave requirements and the state's proposed employee scheduling regulations are concerning to employers in the area", he said.
However, the minimum wage increases only apply to restaurants that are part of a chain of 30 or more locations nationwide.
The statewide minimum wage will increase to $15 an hour for other workers, but on a different schedule than the one established for fast-food employees. There is no cost to employers.