Washington will have the highest state minimum wage in 2023

Washington’s minimal wage is poised to be the best of any state within the nation subsequent yr.

Driving the information: The state Division of Labor and Industries introduced Friday that the minimal wage will improve by $1.25 in January 2023, to $15.74 an hour.

By the numbers: No different state is on monitor to have a better minimal wage than Washington, an Axios evaluation discovered.

• Solely Washington, D.C. — with a minimal wage of $16.10 per hour — will probably be increased, based mostly on an examination of wage insurance policies in each state.
• Washington’s minimal wage will even prime California’s, which is slated to rise to $15.50 subsequent yr.

The large image: Washington has earned itself a popularity as a state that is good for employees.

Context: This yr’s improve in Washington — 8.66% — is due to inflation, state officers mentioned.

• Underneath Initiative 1433, which Washington voters permitted in 2016, the state Division of Labor and Industries should modify the minimal wage yearly based mostly on modifications to the Client Worth Index.
• Client costs elevated 9% within the Seattle space up to now yr, exceeding the nationwide inflation charge of 8.3%, based on the Bureau of Labor Statistics.

What’s subsequent: Washington’s new minimal wage of $15.74 per hour will take impact on Jan. 1.

Of observe: Seattle already has a better minimal wage ($17.27 per hour), as does SeaTac ($17.54 per hour).