Virginia Minimum Wage To Rise On New Year's Day

Source: JJ Gouin / Getty

Virginia workers earning minimum wage will see a 41-cent hourly increase starting January 1, 2025, raising the rate from $12 to $12.41. The adjustment follows a 2020 law passed by the Virginia General Assembly, which mandates the state’s minimum wage be tied to inflation.

Also See: Maryland MinimumWage Increases

The 2020 legislation set a gradual wage increase, starting at $9.50 per hour in 2021 and rising to $12 by 2023. After 2023, further increases are adjusted annually to reflect inflation. This ensures wages keep pace with the cost of living over time. In March 2024, Governor Glenn Youngkin vetoed bills aimed at raising the minimum wage to $15 per hour by 2026, citing concerns over the economic impact on businesses.

Also See: The 6 Steps To Ask for a Raise | Money Monday

As a result, the inflation-linked increases under the 2020 law remain the primary mechanism for wage growth in Virginia. The minimum wage adjustments are expected to continue annually, providing incremental relief to workers while maintaining balance with economic conditions.

Source: The DMV Daily

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Virginia Minimum Wage To Rise On New Year’s Day  was originally published on ronewoldcnews.staging.go.ione.nyc