11 States Raising The Minimum Wage In 2017

Analysts at Stifel published on Tuesday a deep dive in the restaurant sector and turned bearish for several reasons, one of which includes an anticipated hike in minimum wage across many states, which would pose a risk to corporate earnings.

Related Link: Stifel Expects A Recession Within 3 To 9 Months; Bearish On Restaurants

Here is a list of states that have already announced a minimum wage increase effective as of January 1, 2017:

1. Arkansas will raise its minimum wage from $8.00 to $8.50.
2. California will raise its minimum wage from $10.09 to $10.50 and then again to $11.06 on December 31, 2017.
3. Connecticut will raise its minimum wage from $9.60 to $10.10.
4. Hawaii will raise its minimum wage from $8.50 to $9.25.
5. Massachusetts will raise its minimum wage from $10.00 to $11.00.
6. Michigan will raise its minimum wage from $8.50 to $8.90.
7. New York will raise its minimum wage from $9.00 to $10.39.
8. Vermont will raise its minimum wage from $9.60 to $10.00.
9. District of Columbia will raise its minimum wage from $11.00 to $11.50 and then again to $12.50 on December 31, 2017.
10. Maryland will raise its minimum wage from $8.50 to $8.75 and then again to $9.25 on December 31, 2017.
11. Minnesota will raise its minimum wage from $9.21 to $9.50.

The U.S. population as a weighted average by state will see the minimum wage rise from $9.21 to $9.50.

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