Economist: 2018 Minimum Wage Will Be Worth $9.25
ANNAPOLIS, Md. (AP) — An economic analyst says changes made to Maryland’s minimum wage increase bill will mean $875 a year less in a full-time worker’s yearly earnings, compared to Gov. Martin O’Malley’s original plan.
The minimum wage will reach $10.10 an hour by July 2018, according to a bill awaiting O’Malley’s signature.
David Cooper, an analyst for the pro-minimum wage group Economic Policy Institute, says that by then, $10.10 will be worth about $9.25 in today’s dollars. Cooper based his estimate on the federal government’s inflation estimates.
O’Malley originally wanted the minimum wage to reach $10.10 in 2016, when it would be worth about $9.67 in today’s dollars.
Senate Minority Leader David Brinkley, a member of the Senate Finance Committee, says this delay will alleviate the burden on employers.
(Copyright 2013 by The Associated Press. All Rights Reserved.)