Arizona’s minimum wage set for another hike in 2024

The minimum amount workers can get paid in Arizona is about to go up on Jan. 1, 2024.

At the beginning of the year, the new minimum wage in Arizona will increase by 50 cents to $14.35 per hour, according to the Industrial Commission of Arizona. The increase is directly tied to the 3.7% increase in inflation from August 2022 to August 2023.

This will mark the eighth straight year that Arizona’s minimum wage has increased. Arizona’s minimum wage is one of the 10 highest in the United States. The minimum wage hike in 2023 was even higher than the latest increase, with the minimum wage gaining $1.05 to $13.85 as of Jan. 1, 2023.

While the data shows that many employers are already paying over the minimum wage and most workers won’t get a government-forced raise on Jan. 1, the reality is that the minimum wage hike will force more wages to increase in 2024.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.