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AP National Business

Inflation triggers California minimum wage increase in 2023

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Published 4:55 PM

By ADAM BEAM
Associated Press

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. 

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