Florida's minimum wage going up 12 cents per hour

Minimum Wage
Posted at 4:57 PM, Dec 19, 2012
and last updated 2012-12-19 12:17:29-05

TALLAHASSEE, Fla. (AP) — Florida's minimum wage is going up by 12 cents per hour to $7.79 on Jan.1 due to an increase in the cost of living.

The National Employment Law Project on Wednesday reported 210,000 Floridians will benefit from the increase. It's expected to add an average of $370 to their annual wages and $46.2 million to the state's gross domestic product.

Florida is one of 19 states with minimum wages above the national limit of $7.25 per hour. It's also among 10 states with minimum wages indexed to cost of living increases. The federal minimum wage, though, is not indexed so it's expected to lose nearly 20 percent of its purchasing power over the next decade.

Voters passed a state constitutional amendment in 2004 requiring an indexed minimum wage in Florida.