Ohio Minimum Wage to Go Up 10 Cents in 2014
The automatic boost comes from a policy known as indexing, which Ohio has adopted along with 11 other states. Indexing raises the minimum wage to account for increases to the cost of living.
Jack Temple is a policy analyst for the National Employment Law Project. He says the extra ten cents an hour can go a long way.
“What this 10 cent boost means is that the same bag of groceries that they could afford last year, they can afford this year," Temple said. "The same tank of gas they could buy last year on their paycheck they’ll be able to buy this year. So it’s a small raise -- it’s ten cents an hour. But it’s a big difference when it comes to the paychecks of the lowest paid workers of the state.”
Temple praises Ohio for ensuring the value of the minimum wage remains consistent. However, he says the minimum wage in Ohio and most of the other states around the country are still inadequate and must be raised even higher.
According to the National Employment Law Project, the 10 cent increase in 2014 will create $38 million in new economic growth.