By Amy Yee
Chicago Sun Times, December 31, 2024
Illinois will raise its minimum wage by $1 on Wednesday to $15 per hour, joining more than 20 states increasing minimum hourly wages in 2025. ...
The federal minimum wage has stayed at $7.25 per hour since July 24, 2009, — the longest period in history without a raise, according to the national coalition Business for a Fair Minimum Wage. The group, citing the U.S. Bureau of Labor Statistics inflation calculator, said purchasing power has “eroded greatly” since peaking in 1968 when the minimum wage was worth $14.76 in 2024 dollars.
Some business owners say a higher minimum wage boosts their business.
“Raising the minimum wage helps economies thrive. We invest in our employees, and the return on that investment is huge,” Mike Draper, owner of Raygun, said in a news release. The Des Moines, Iowa-based clothing and decor company operates a store in Andersonville.
“We welcome the minimum wage increases starting off the year in Illinois, New York and Virginia as well as D.C.’s annual increase in July,” Aaron Seyedian, owner of Well-Paid Maids, said in a news release.
The fair wage home cleaning company launched in Chicago in September — its first Midwest expansion beyond the Washington, D.C., area and New York.
“Our low employee turnover saves us a lot of money and time on hiring and training. And we’re happy to report another year of record revenue for our business,” he said. ...