Seattle, Washington is renowned for its stunning natural surroundings, flourishing tech sector, and liberal legislation. The highest minimum wage in the country is one of these policies. The minimum wage in Seattle is $15.00 per hour for small businesses with 500 or fewer employees and $16.69 per hour for large businesses with more than 500 employees as of January 1, 2021. The federal minimum wage, which is now set at $7.25 per hour, is considerably higher than this rate.
The high minimum wage in Seattle is the result of a slow increase that started in 2015. The city then increased its minimum wage to $11.00 per hour with the intention of eventually raising it to $15.00 for all employees. Since then, the city has kept raising its minimum wage annually to keep up with inflation.
Although Seattle has the highest minimum wage in the US, it is not the highest in the entire world. The country with the highest minimum wage is Australia, where the hourly rate is AUD 19.84, or roughly USD 15.12. The two minimum earnings are not directly comparable, though, as Australia has a far higher cost of living than the United States.
A $15.00 per hour minimum wage has also been introduced in a number of US states. These include New York, New Jersey, Connecticut, Illinois, Maryland, Massachusetts, and California. State-specific implementation timelines and specifications, however, differ. For instance, the $15.00 per hour minimum wage in California will become effective for large firms in 2023 and for small employers in 2024.
On the other end of the scale, some nations don’t have a minimum wage at all or have one that is extremely low. For instance, the minimum wage in Haiti is only 400 Haitian gourdes (about $4.62 USD) each day. The minimum wage in India varies greatly by state and industry, although it can be as low as INR 176 per day (about USD 2.40).
At $16.69 per hour for large companies and $15.00 per hour for small firms, Seattle, Washington now has the highest minimum wage in the country. Despite not being the highest in the world, this figure represents a sizable rise above the federal minimum wage. Although the dates and particulars of implementation differ, several other states in the US have also enacted a $15.00 per hour minimum wage. Some nations have very low or no minimum wages, which emphasizes the significance of ongoing efforts to provide equitable compensation for all workers.