Workforce Wage Updates that May Impact Your Business

Workforce Wage Updates that May Impact Your Business. Graphic of 3 individuals and the Volusia County Florida Economic Development logo

Florida’s Minimum Wage Increase

Floridians will see an increase of $1 on Sept. 30, 2023, taking the minimum wage from $11 to $12. Tipped employees will see their required cash wage increased to $8.98. After a 60% voter approved constitutional amendment that passed on Nov. 3, 2020, the state’s minimum wage will increase incrementally each year until reaching $15 an hour ($11.98 for tipped workers) on Sept. 30, 2026. Afterward, the minimum wage will increase based on inflation. As a reminder, Florida businesses must display federal and State of Florida employment law posters where they can be easily viewed by employees.

Florida is one of 29 states in which the minimum wage is higher than the federal minimum wage. The state minimum wage rate requirements, or lack thereof, are generally controlled by legislative activities within the individual states. Federal minimum wage law supersedes state minimum wage laws where the federal minimum wage is greater than the state minimum wage. In those states where the state minimum wage is greater than the federal minimum wage, the state minimum wage prevails. See how Florida compares at the Department of Labor’s State Minimum Wage Laws webpage:  https://www.dol.gov/agencies/whd/minimum-wage/state.

U.S. Dept. of Labor’s Proposal to Restore, Extend Overtime Protections to Low-Paid Salaried Workers

On Sept. 8, the U.S. Department of Labor (DOL) announced a notice of proposed rulemaking that would guarantee overtime pay for most salaried workers earning less than $1,059 per week or about $55,000 per year. According to the press release issued by the DOL, the proposed rule would do the following:

  • Restore and extend overtime protections to low-paid salaried workers.
  • Give workers who are not exempt executive, administrative or professional employees valuable time back.
  • Prevent a future erosion of overtime protections and ensure greater predictability.
  • Restore overtime protections for U.S. territories.

Upon publication in the Federal Register, the notice of proposed rulemaking will be open for public comment for 60 days. The department will consider all comments received before publishing a final rule. The DOL invites the public to comment on this Notice of Proposed Rulemaking. The 60-day comment period closes at 11:59 p.m. Nov. 7.


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