Minimal wage employees in Alaska will see their paychecks go up in 2023 because of a 51-cent per hour pay enhance which takes impact January 1.
A poll measure handed on Nov. 3, 2014 adjusts the minimal wage every year for inflation. In line with a press release by the Alaska Division of Labor and Workforce Improvement, the adjustment is predicated on the Client Value Index (CPI) for shoppers in Anchorage.
“A CPI is a measure of the typical change over time within the costs paid by city shoppers for a market basket of client items and providers,” the U.S. Bureau of Labor Statistics defined.
The Anchorage CPI elevated by 4.9% in 2021, so the minimal wage will go from $10.34 to $10.85 on Jan. 1.