TALLAHASSEE, Fla. – The Florida state minimum wage is set to increase from $11 to $12 on Saturday, the latest in a series of annual increases approved by voters back in 2020. The minimum wage will continue to increase one dollar each year on September 30th until it becomes $15 an hour in 2026. Starting in 2028, it will continue to rise annually according to inflation.
For workers in major industries such as service and retail, the increase could be a major boost when it’s needed most. The cost of rent and of essential goods like gas and groceries are at historic highs in Florida, as they are in much of the rest of the nation as well.
Opponents of wage increases often contest that the increased cost for businesses could be passed onto the customer. While this debate rages on in many forums, leading economic research suggests the effect is not as pronounced as some fear. Still, small and/or local businesses may be prompted to cut expenditures in some other area to accommodate the increase.
When Florida’s minimum wage reaches $12, it will be tied for the 15th highest minimum wage in the union. It also has the 15th highest cost of living and the 10th most expensive housing according to U.S. News & World Report.