Wages articles
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The subminimum wage for tipped workers is on the table
As more cities and states debate abolishing subminimum wages for tipped workers, we’re keeping an eye on Washington, D.C., where the tip credit system is being phased out. Though food service staff shrunk last year, some current servers say their paychecks are much more stable. Plus, corporate defaults climb and the cost of Asian imports falls as the cost of goods from Mexico increases.
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Wage growth outpaced inflation in March
Wage increases peaked back in March 2022, at 5.9% a year. That was at the height of the crazy-tight post-pandemic labor market.
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Senate shoots down additional minimum wage increase
As expected, a majority in the Senate voted against an additional 1.2 percent increase in the minimum wage on Tuesday. The BBB announced last week that it would vote against the law that regulated the increase, making it clear there would be no majority support.