Michigan’s Minimum Wage Set To Increase In January Of Next Year
Michigan's Minimum wage is set to increase in January of 2022 from $9.65 to $9.87 on January 1, 2022 thanks to a report from the Michigan Department of Labor & Economic Opportunity.
This pay raise can't come quick enough, with inflation taking prices on everyday items like groceries to a whole new level we desperately need to raise that minimum wage bar.
The determination, made by the Bureau of Labor Statistics (BLS), U.S. Dept. of Labor, calculates the increase by using both average labor force and unemployment levels for January through December. Source:NBC25.com
Michigan’s minimum wage will increase to $9.87 an hour.
The 85% rate for minors aged 16 and 17 increases to $8.39 an hour.
Tipped employees rates of pay increases to $3.75 an hour.
The training wage of $4.25 an hour for newly hired
employees ages 16 to 19 for their first 90 days of employment remains unchanged.
It's not much of a raise but all of it counts over time and we've gotta do something as more people are falling into debt according to The Hill. Inflation has put nearly half of Americans behind on finances especially the lower-income families.
So you would think that raising the pay rate overall will help right? Well, kinda. That just means the employer has to pay their employees more money, which could mean fewer jobs to compensate for an increase in payroll. There's no such thing as a free lunch and balancing the economy is way harder than you think, and pumping more money or not enough money into the economy at the wrong time could cause serious damage...