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Inflation triggers California minimum wage increase in 2023

California-Minimum Wage
Posted at 7:56 AM, May 13, 2022
and last updated 2022-05-13 10:56:41-04

SACRAMENTO, Calif. (AP) — California's minimum wage will increase to $15.50 per hour next year. That increases the minimum wage from $15 per hour for companies with 25 or more workers and $14 per hour for companies with 25 employees or less.

State law says if inflation increases by more than 7%, the minimum wage must increase to $15.50 for everyone.

Thursday, Gov. Gavin Newsom's administration announced they project inflation will increase 7.6% this year. Department of Finance Director Keely Martin Bosler said she expects the minimum wage increase to have little impact on overall inflation in the state economy.