Will Kentucky Raise Minimum Wage?

What is Kentucky’s minimum wage in 2019?

$7.25 per hourKentucky Minimum Wage for 2019, 2020.

Kentucky’s state minimum wage rate is $7.25 per hour.

This is the same as the current Federal Minimum Wage rate.

The minimum wage applies to most employees in Kentucky, with limited exceptions including tipped employees, some student workers, and other exempt occupations..

Which states will be raising minimum wage in 2020?

The states that raised their wages at the start of 2020, or will later this year, include:Alaska, with an hourly increase from $9.89 to $10.19.Arizona, $11 to $12.Arkansas, $9.25 to $10.California, $12 to $13.Colorado, $11.10 to $12.Connecticut, $11 to $12 on Sept. … Florida, $8.46 to $8.56.Illinois, $8.25 to $9.25.More items…•

What states have the $15 minimum wage?

The states that have approved $15 an hour minimum wage increases are California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey and New York. Minimum wage increases are typically popular among the electorate.

What is middle class income in Kentucky?

Range of household incomes needed to be considered middle class, by family sizeStateSingleCoupleKentucky$22,910 – $68,730$32,400 – $97,199Louisiana$23,588 – $70,765$33,359 – $100,077Maine$25,676 – $77,028$36,311 – $108,934Maryland$28,572 – $85,717$40,407 – $121,22248 more rows•Jul 15, 2020

What is the highest paying job in Kentucky?

LIST: Highest-paying jobs in KentuckyClick here to see the average yearly salary for all jobs in Kentucky. Surgeons $270,300.Dentists, All Other Specialists $224,170. … Oral and Maxillofacial Surgeons $205,530. … Nurse Anesthetists $185,040. … Chief Executives $157,170. … Podiatrists $118,390. … Architectural and Engineering Managers $115,190. … Actuaries $110,400.More items…•

What is the poorest part of Kentucky?

Martin County, Kentucky Currently, Martin County’s population is one of the poorest in the United States. Nearly 30 percent of county residents live in poverty, and most households earn less than $30,000 a year.

What state has the highest minimum wage?

As of January 2018, there were 29 states with a minimum wage higher than the federal minimum. Washington D.C. and New York City have the highest minimum wage at $15.00 per hour while California and Washington have the highest state minimum wage at $13.00 per hour, while Massachusetts follows at $12.75 per hour.

Does everyone get a raise when minimum wage goes up?

Not everyone will get a raise, but people near the bottom will. There will be a diminishing effect of the minimum wage standard as you move up the ladder. Many people don’t get paid on an hourly basis, they get a salary that likely won’t change due to a minimum wage standard.

What would a $15 minimum wage mean to the economy?

A report last year by the Congressional Budget Office found that a $15 minimum wage would increase the income of 27 million workers, 17 million of whom currently earn below that amount with the remaining 10 million earning just over $15 an hour, but all of whom would see their wages rise due to what economists call the …

What state has lowest minimum wage?

GeorgiaThe state currently with the lowest minimum wage requirements as stated in data from the DOL is Georgia. Paying just $5.15 per hour, Georgia has a minimum wage of more than $2.00 below the federal mark of $7.25. The state with the second-lowest wage is Wyoming with a minimum hourly pay rate of $5.17.

What would $15 minimum wage do to the economy?

In July 2019, the nonpartisan Congressional Budget Office estimated that a $15 minimum wage would eliminate 1.3 million jobs. The CBO also forecast that such an increase would reduce business income, raise consumer prices, and slow the economy. The U.S. economy will be very weak throughout 2021.

What are the disadvantages of raising minimum wage?

Cons of Raising the Minimum WageLayoffs. If an employer has a tight compensation budget and the minimum wage is raised, it means they can no longer compensate the same number of employees at a higher rate and must make layoffs to remain within budget. … Price increase. … Fewer Hirings. … Competition Will Intensify. … Applied Inconsistently.

What is the minimum wage in KY 2020?

Proposed Kentucky Minimum Wage Increases The lawmakers’ plan calls for gradual increases to Kentucky’s minimum wage, starting with a bump to $8.20 in 2020. Thomas, an attorney and law professor, noted that states contiguous to Kentucky have minimum wage rates above the federal requirement: Illinois: $8.25.

What is a livable wage in Kentucky?

Living Wage Calculation for Kentucky1 ADULT0 Children1 ChildLiving Wage$10.98$23.19Poverty Wage$6.00$8.13Minimum Wage$7.25$7.25

Is minimum wage going up in Kentucky in 2020?

Are there plans to change Kentucky’s minimum wage beyond 2019? Regarding Kentucky minimum wage, 2020 did not see an increase. And the minimum wage in Kentucky is currently not slated to change.