Boss makes a dollar, we make a dime. That’s why we…work hard on company time? 🤔 Hmm, is that how that little ditty goes? Something smells a bit…off! 💩
No matter where you work, you’re probably workin’ for the weekend. 🥳 And if you’re getting the minimum wage in Ohio, your paycheck will get a boost in the new year. But…how does it stack up against the rest of the country? 📊
Here’s Five Fast Facts on Ohio’s minimum wage increase:
- 🙌 Raise the Roof - On January 1st, Ohio’s minimum wage will jump from $10.45 an hour for non-tipped employees to $10.70 an hour. For tipped workers in the service industries, the minimum wage will increase from $5.25 an hour to $5.35 an hour.
- 💸 Game Plan - This new increase is all part of a plan that was already in the works. Back in 2006, Ohio passed an amendment to the state’s constitution with a plan for the minimum wage to increase on the first of each year by the rate of inflation.
- 🏭 Down to Business - The minimum wage increase only applies to businesses over a certain size. All Ohio businesses with annual revenues of $394,000 or more are required to increase workers’ wages to the new minimum. Companies who make less than that can still pay their employees the federal minimum wage of $7.25 an hour.
- 📈 Trendy Trends - Across the country, other states are raising wages, too. A total of 23 states and 65 cities and counties have plans to hike their minimum wage rate. Roughly 3 million workers earning minimum wage will benefit from the boost, and an estimated 6.2 million higher-paid employees will likely benefit from a ripple effect of raised wages across the board.
- ⏫ Prettier Paychecks - Even with this latest raise, the Buckeye State’s minimum wage is much lower than other states. Many are raising their minimum wages to $15 an hour or more. New York, California, Massachusetts, Washington, Maryland, New Jersey, and Connecticut are already there. Alaska, Florida, Hawaii, Missouri and Nebraska will get there by 2026 or 2027.
🔥Bottom line: If minimum wage ain’t cuttin’ it, there’s always get rich quick schemes! J/K, don’t fall for any of that snake oil. We’ll let you in on a little secret: you can make a ton of money by doing certain jobs no one else wants to do really well. More on that here!
Will you be getting a pay raise in 2025?
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