On November 3, 2020, Florida voters voted in favor of Amendment 2 to Florida's constitution, which will raise Florida's hourly minimum wage incrementally from its current rate of $8.56 to $15 in September 2026. Florida becomes the eighth state to raise its minimum wage to $15, but it is the first state to raise its minimum wage by ballot measure. The constitutional amendment goes beyond a $15 minimum wage by implementing an annual minimum wage increase after 2026 based on the rate of inflation.
The Florida hourly minimum wage will increase by $1 each year from 2021 until 2026, as follows:
- $10 on September 30, 2021
- $11 on September 30, 2022
- $12 on September 30, 2023
- $13 on September 30, 2024
- $14 on September 30, 2025
- $15 on September 30, 2026
Beginning on September 30, 2027, the Florida minimum wage will be adjusted annually based on increases to the Consumer Price Index for Urban Wage Earners and Clerical Workers. The adjusted minimum wage would go into effect on the following January 1 each year.
What This Means for Florida Employers
Florida employers should budget and prepare for annual minimum wage increases beginning on September 30, 2021.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
