On September 30, 2022, the minimum wage in Florida (now $8.56) will raise to $10.00. After then, the minimum wage will rise by $1.00 every year until it hits $15.00 per hour in 2026.<\/p>\n\n\n\n
Employers in the public and private sectors, regardless of size or number of employees, are subject to the minimum wage rate.<\/p>\n\n\n\n
This increase was the outcome of Amendment 2, a constitutional amendment passed by over 60% of Florida voters on November 3, 2020.<\/p>\n\n\n\n
Because Amendment 2 did not affect the allowable tip credit, Florida employers may continue to take a tip credit of up to $3.02 per hour for properly categorized tipped employees who fulfill the eligibility conditions under the Fair Labor Standards Act.<\/p>\n\n\n\n
In this article, you will learn about the fl state minimum wage.<\/p>\n\n\n\n
A minimum wage is the lowest wage that businesses are legally allowed to pay their workers. It is also the lowest price that workers can sell their work for. By the end of the twentieth century, most countries had enacted minimum wage legislation. <\/p>\n\n\n\n
Because minimum wages raise labor costs, many businesses try to avoid them by hiring gig workers, moving employees to areas with lower or no minimum pay, or automating job tasks.<\/p>\n\n\n\n
Minimum wages became popular as a strategy to assist low-income households over time. In the 1890s, New Zealand and Australia approved the first national laws requiring compulsory union membership and setting minimum salaries for its members.<\/p>\n\n\n\n
Although minimum wage regulations are already in place in many jurisdictions, there remain differences of opinion about the benefits and drawbacks of such legislation.<\/p>\n\n\n\n
Minimum wage may result in job losses, according to supply and demand models. On the other hand, minimum wages can make the labor market work better in cases of monopsony, which is when one business sets the wages for the whole market.<\/p>\n\n\n\n
Supporters argue that the minimum wage raises employees’ living standards, decreases poverty, reduces inequality, and enhances morale.<\/p>\n\n\n\n
The current minimum wage in Florida is $11.00 per hour. It’s higher than the $7.25 minimum wage required by law in the United States. That’s why you should be paid at least the greater state minimum wage. Tipped workers, some student workers, and those in certain exempt professions are among the few exclusions to Florida’s minimum wage law.<\/p>\n\n\n\n
According to the FLSA, most businesses must pay non-exempt employees the prevailing federal minimum wage for hours worked, as well as overtime compensation (typically one and a half times the employee’s regular hourly rate) for time, worked in excess of 40 hours per week. <\/p>\n\n\n\n
Professionals (doctors, lawyers, accountants, and so on), executives (including supervisors and managers whose primary responsibilities include supervising two or more employees and who have authority or input into personnel decisions affecting employees), and administrators (those whose responsibilities require the use of independent.<\/p>\n\n\n\n
There may be further exemptions that apply to specific vocations and sectors.<\/p>\n\n\n\n