WA Minimum Wage to Rise $1.25 in 2023 Due to Consumer Prices
Workers in Washington state are going to see another raise in the minimum wage in 2023, due to consumer prices.
Labor and Industries raises the minimum wage again
$15.74 is what minimum wage workers will receive starting January 1st, 2023. According to Labor and Industries (L&I) the reason for the raise is due to consumer expenses:
"The 8.66 percent rise is directly linked to the cost of common goods such as housing, food, and medical care as reflected in the Consumer Price Index."
This raise will also affect non-minimum wage workers as well. According to L&I:
"The 2023 minimum salary for exempt employees working for small employers (1-50 employees) is 1.75 times the minimum wage. That means an employee exempt from overtime pay must earn at least $1,101.80 a week ($57,293.60 a year).
For large employers (51 or more employees), the threshold is 2 times the minimum wage. Those employees must earn at least $1,259.20 a week ($65,478.40 a year)."
These changes will also affect ride-share workers, such as Lyft and Uber. Beginning in January, here's a look at what these drivers will be getting, according to L&I:
"For trips within Seattle in 2023, drivers will earn 64 cents per passenger minute and $1.50 per passenger mile, or $5.62, whichever is greater.
For trips outside of Seattle in 2023, drivers will earn 37 cents per passenger minute and $1.27 per passenger mile, or $3.26, whichever is greater."
These increases in the Consumer Price Index are tied to skyrocketing gas prices, as well as increased prices due to numerous food and product shortages since January 2021.
This increase is expected to have an impact on businesses when it comes to employees, especially those needing to add workers.