By Aimee Picchi
CBS News Money Watch, Dec. 19, 2024
Millions of workers nationwide could be in line for a pay hike next year, with half of U.S. states planning to boost their minimum wages in 2024. ...
Increasing the minimum wage is both good for workers and the overall economy, said Holly Sklar, CEO of Business for a Fair Minimum Wage, a group that advocates for higher baseline wages.
Low-wage workers who get pay hikes "boost the consumer spending that businesses depend on," she said in a statement. "While the federal minimum wage falls further and further behind the cost of living at just $7.25 an hour, state increases are vital for workers, businesses and communities." ...