San Francisco's minimum wage to be highest in the nation
Payroll services in one California city will soon be pushed to the brink. The minimum hourly wage in San Francisco will reach $10.24 starting January 1, 2012, which is significantly higher than the $7.25 federal minimum wage and the state's $8 minimum. In fact, San Francisco's new pay structure is the highest in the nation, according to Reuters.
The raise in pay comes from a city proposition passed in 2003 that requires an increase in the minimum wage each year that is tied to cost of living and inflation.
Employers in the city must also offer health insurance. This benefits administration is designed to make jobs more appealing to those seeking employment.
However, some employers worry about what this increase in minimum wage and benefits requirements will mean to payrolls across the city, and others believe layoffs and lost business will not be far behind, Reuters reports.
For employees, the rise in the minimum wage is a symbolic and small financial boost.
"It's a psychological boost," David Frias, a 34-year-old who works two minimum wage jobs to make ends meet, told The Associated Press. "It means that I'll have more money in my wallet to pay my bills and money to spend in the city to help the economy."
The raise in pay comes from a city proposition passed in 2003 that requires an increase in the minimum wage each year that is tied to cost of living and inflation.
Employers in the city must also offer health insurance. This benefits administration is designed to make jobs more appealing to those seeking employment.
However, some employers worry about what this increase in minimum wage and benefits requirements will mean to payrolls across the city, and others believe layoffs and lost business will not be far behind, Reuters reports.
For employees, the rise in the minimum wage is a symbolic and small financial boost.
"It's a psychological boost," David Frias, a 34-year-old who works two minimum wage jobs to make ends meet, told The Associated Press. "It means that I'll have more money in my wallet to pay my bills and money to spend in the city to help the economy."
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