Florida’s minimum wage is set to increase by a dollar on Tuesday, rising from $13 to $14 an hour. The bump is part of a series of incremental increases approved by voters in 2020 under Amendment 2.

Since 2022, the state’s minimum wage has gone up by $1 each year and will reach $15 an hour in September 2026. Workers earning minimum wage and working 40 hours per week will see an additional $2,080 annually from this year’s increase.

Chris Jones, president of Florida Economic Advisors, says while the raises help workers bring in more money, they also come with challenges.

“Florida’s no longer a cheap state to live in, and a lot of that has to do with the price of real estate and the price you have to pay workers,” Jones said.

Jones noted that higher wages can encourage businesses to expl

See Full Page