Mimimum wage earners seeing a 12 cent raise in 2013
Florida's minimum wage is going up by 12 cents per hour to $7.79 on January 1st, due to an increase in the cost of living. The National Employment Law Project says 210,000 Floridians will benefit from the increase.
It's expected to add an average of $370 to their annual wages and 46.2 million dollars to the state's gross domestic product. Florida is one of 19 states with minimum wages above the national limit of $7.25 per hour.
It's also among 10 states with minimum wages indexed to cost of living increases. The federal minimum wage, though, is not indexed so it's expected to lose nearly 20 percent of its purchasing power over the next decade.
