2. The new rates are expected to take effect Jan. 1, 2015. Florida has become one of a handful of states that is increasing its minimum wage to $15 an hour. The Fair Labor Standards Act (FLSA) determines the minimum wage for employees in private and public sectors, in both Federal and State governments. Arizona has a state minimum wage of $12.15 an hour, and the city of Flagstaff plans to increase the minimum wage to $15.50 an hour by 2022. Companies have been named and shamed for failing to pay their workers the minimum wage. Costco (Nasdaq: COST), long known for treating its employees well and paying them more than rivals, has recently joined the ranks of companies offering a $15 minimum wage. Official website for Costsco Wholesale. Costco raised its minimum wage most recently in 2016 to $13 or $13.50, an increase of $1.50 across the board. What do you think? Costco announced it would be raising its minimum wage from $11.50 and $12 an hour to $13 and $13.50 an hour. The minimum wage rate is the lowest hourly pay that can be awarded to workers, also known as a pay floor. Roughly 90 percent of Costco’s employees are hourly workers, and the average wage is $23 an hour, according to a company spokesman. But the Republicans balk at the idea, which makes Biden’s plans likely to be delayed. The long-running debate over a federal wage boost has emerged again as House Democrats work on a $1.9 trillion COVID-19 … Florida just passed it—as divided as that state is—they just passed it. But the Florida Restaurant and Lodging Association (FRLA), a trade … The long-running debate over a federal wage boost has emerged again as House Democrats work on a $1.9 trillion COVID-19 relief package that House Speaker Nancy Pelosi said Thursday will include the $15-an-hour federal minimum … Costco is bumping up its minimum wage and giving raises to all of its hourly workers. Special to The Globe and Mail . In February, Gap Inc. announced that it would raise minimum hourly … Florida joins just seven other states in the process of raising their minimum wages to $15 an hour. Florida is one of eight state that automatically increases minimum wage rates based on the annual cost of living calculations. By Alexa Lardieri, Staff Writer March 8, 2019. Kempczinski highlighted the fact that many states have already passed minimum wage legislation, including Florida, which voted for a $15 minimum wage in … The rest of the country is ready to move as well.” The federal minimum wage hasn’t been increased since 2009, and for over 33 million workers, the proposal feels like a tipping point for the better. In March, the company raised its minimum wages from $14 and $14.50 up to $15 and $15.50. Indeed.com estimated this salary based on data from 4 employees, users and past and present job ads. CAROL SANFORD. Florida became the eighth state and the first in the South to adopt a $15 minimum wage. Costco Raises Minimum Wage to $15 an Hour This is the second time in less than a year that the company has increased minimum wage for employees. Under the FLSA, non-exempt employees must be paid the minimum wage or higher. Open this photo in gallery: ELISE AMENDOLA/The Associated Press. Costco’s earnings rose to $889 million, and it raised the minimum wage for store workers in the United States and Canada from $14.50 to $15.50 an hour. Costco Wholesale said it has raised starting wages for store workers to $15 an hour, as a tight U.S. labor market continues to drive fierce competition for hourly staffers. Replicating this in other states and on the federal level remains a challenge. In November, Amazon increased its minimum wage for all employees, including those who work at Whole Foods, to $15 an hour. The current minimum wage in Florida … On Jan. 1, 2020, Florida's minimum wage … Shop by departments, or search for specific item(s). Target gave employees a boost last year by increasing their hourly minimum … Florida recently voted to increase its minimum wage to $15 an hour by 2026, but the Sunshine State is an outlier. Georgia, Louisiana, North Carolina, Virginia and Tennessee all follow the current federal minimum wage of $7.25 an hour for businesses. The new minimum wage puts the company in line with Amazon and Costco, which both provide a minimum wage of $15, and ahead of Walmart, which pays a minimum wage of $11 an hour. Even Amazon now offers a $15 minimum wage. Ikea will peg its minimum wage in different stores to MIT's Living Wage Calculator, which estimates the minimum living wage a worker needs to make depending on where he or she lives. Amazon, Target, Disney, Costco, Wells Fargo, and Bank of America—just to name a few—say they plan to pay minimum hourly wages of $15 or more by 2021. In November 2020, Florida voters passed a Constitutional Amendment which will gradually raise the minimum wage to $15.00 per hour by 2026. Gap Inc. That increase was the first in nine years at the time. The Fair Minimum Wage Act would also gradually raise the minimum wage for tipped workers for the first time in more than 20 years from an abysmal $2.13 an hour at present to 70 percent of the regular minimum wage. Florida's Amendment 2, which passed with a "Yes" vote of 61 percent, will incrementally raise the state's minimum wage to $15 per hour in six years, from its current $8.56 per hour. Costco minimum wage: $15 per hour Costco raised its minimum wage to $15 in 2019. The citizen’s initiative will eventually lift Florida’s minimum wage to $15 an hour by 2026, with a boost to $10 an hour on Sept. 30, 2021, then an increase by a dollar every year through 2026. These … And that’s not unusual, writes Matthew C. Klein. Costco has already matched Amazon's minimum wage. The retailer has been celebrated by many workers as one of the best places to work in the industry. IKEA said none of its wages will fall below $9 an hour. Costco isn’t the only company that has raised its minimum wage for workers in recent months. Why raise the minimum wage? Florida residents let their ballots do the talking in November by voting “Yes” on increasing Florida’s minimum wage to $15 an hour by 2026. And it’s the first state to raise the minimum wage to … Florida Business for a Fair Minimum Wage, a new coalition of over 160 business owners and executives that backed Amendment 2, praised the win, saying in a statement on its website that a higher minimum wage boosts consumer buying power and improves work productivity by reducing turnover. Florida: $8.65 $5.63 Yes Florida's minimum wage increased to $8.65 and the tipped minimum wage to $5.63 on January 1, 2021. Just ask Costco. Donald Trump cruised to victory in Florida at the same time that a referendum on raising the minimum wage won by more than 20 points. In Florida, 51.2% of the electorate voted for Trump and 61% approved raising the state’s $8.56 an hour minimum wage in increments, until it hits $15 in 2026. Tons of great salary information on Indeed.com Despite the minimum wage in Florida rising steadily over recent years, the market is outpacing state and federal standards, with several large employers already paying at least $10 an hour for entry-level positions. Costco says it will raise its minimum wage to at least $14 an hour for all 130,000 of its hourly workers. Meanwhile, the federal minimum wage remains at $7.25. It … Costco said it would raise its minimum wage for store workers for the first time in nine years, the latest U.S. retailer to respond to a tightening labor market. At the same time, the company increased pay for supervisors and introduced paid bonding leave for all hourly employees. The company also raised the minimum wage from $13 to $14 an hour less than a year ago, in June 2018. The Government has released a list of companies, including some of the UK’s biggest household names, that failed to pay £6.7 million to over 95,0000 workers in total between 2016 and 2018. Costco announced Thursday that it would increase minimum wage for hourly employees to $15 an hour in the U.S. Costco Wholesale Cashier in Florida makes about $14.47 per hour. Minimum wage increased to $9.25 effective on October 1, 2019.