By Merrilee Gasser, The Center Square
In Summary:
Florida’s minimum wage will rise from $14 to $15 an hour on September 30, 2026, the final scheduled increase under a constitutional amendment approved by voters in 2020. After reaching $15, future wage adjustments will be tied to inflation and managed by the Florida Agency for Workforce Innovation. The increase comes amid ongoing debate over its economic impact, as studies show modest price increases while employment across much of the state has continued to grow.
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Florida’s minimum wage will rise to $15 an hour in 2026 as a result of a constitutional amendment approved by voters in 2020.
Florida’s current minimum wage is $14 an hour. The increase will go into effect on September 30 and will be the state's last scheduled minimum wage increase.
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The pay was $8.56 an hour when voters agreed to allow an annual $1 increase until it hit $15. In the future, the state Agency for Workforce Innovation will be tasked with adjusting the minimum wage rate for inflation.
The Florida Restaurant and Lodging Association had opposed the increase and warned that businesses would likely raise prices to offset the new wage costs. The organization cited a 2019 Congressional Budget Office report stating that while incomes would rise, hundreds of thousands of jobs would be lost if the federal minimum wage of $7.25 an hour were increased to $15 by 2025.
Business leaders who supported increasing Florida’s minimum wage argued it would reduce employment turnover, saving them additional hiring and training costs and increasing productivity.
The state has seen employment rise in many counties year-over-year since the wage increase was approved, according to the Bureau of Labor Statistics. While prices have also risen, they are part of the nationwide inflation trend, making it unclear whether the incremental wage increase is a contributing factor.
Research indicates that for every 10% increase in the minimum wage, consumer prices rise 0.3%, according to the Upjohn Institute for Employment Research.
Florida is on the higher end of the minimum wage pay scale. Only 11 states have a rate of $15 or higher. Twenty states still use the federal minimum wage of $7.25.
It’s estimated that an adult without children or a spouse to support would need to earn $23.41 an hour to earn a living wage in Florida, according to the Massachusetts Institute of Technology’s Living Wage Calculator. The same person with a child or spouse would need to earn $37.98 an hour to make a living wage.
Nearly 20 other states are increasing their minimum wage in the new year.
Some have implemented incremental wage increases, including Alaska, Hawaii, Michigan, Missouri, and Nebraska.
Others have an indexed minimum wage that automatically adjusts based on certain economic factors.
Ohio’s minimum wage has automatically increased since 2006, when voters approved a constitutional amendment to tie it to inflation.
Key Points:
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Florida voters approved annual $1 minimum wage increases in 2020, raising the rate from $8.56 an hour to $15 by 2026.
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The Florida Restaurant and Lodging Association opposed the increase, citing concerns about higher prices and potential job losses.
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Employment in many Florida counties has continued to rise year over year, according to the Bureau of Labor Statistics, though prices have also increased amid nationwide inflation.
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Research from the Upjohn Institute for Employment Research indicates that a 10% minimum wage increase typically raises consumer prices by about 0.3%.
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While Florida will rank among the higher-paying states, an adult needs an estimated $23.41 an hour—and up to $37.98 with dependents—to earn a living wage, according to the Massachusetts Institute of Technology Living Wage Calculator.
