Business owners getting ready for minimum wage increase

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The second in a series of statewide minimum wage increases begins today. As HuffPost reported in July, the new law had the effect of reversing St. Louis' minimum wage, taking it from $10 to the current state level of $7.70. It's part of an eventual increase to $15 an hour, which is something many small business owners have been against.

The 15-cent increase for 2018 is the largest hourly increase since 2012, when the wage rose by 36 cents an hour, according to the Department of Economic Opportunity.

However, Goodell said he does sympathize with the working poor and how hard it is to balance a budget on minimum wage.

Florida's minimum wage will increase to $8.25 an hour Monday, 15 cents higher than the current rate.

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The year 2018 will be the 20th anniversary of the legislation that saw the introduction of the minimum wage. Twenty-nine states and the District of Columbia now require a higher minimum wage than the federal one.

"We though are concerned about further efforts to increase that and make MI an even greater outlier in this area", says Block. If you throw more money at them, they don't necessarily do more work. Workers in New York City who are employed at businesses with at least 11 employees will now earn a minimum wage of $13/hour.

The minimum wage will rise to $11 an hour for workers in Nassau, Suffolk and Westchester counties and $10.40 an hour for employees in the rest of the state.

Gov. Andrew Cuomo included the wage increase in the 2016 Built To Lead Agenda.