Thursday, December 22, 2022

The Daily Money: The minimum wage will be on the rise in the new year

Near the start of 2023, 21 states and 41 cities and counties are preparing to increase their minimum wages according to an exclusive report. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
usatoday.com

The Daily Money
 
Thursday, December 22

Its Thursday and the weekend is in sight. It's Charisse Jones with your Daily Money headlines.

The minimum wage is on the rise in nearly half the country. On or near the start of the new year, 21 states and 41 cities and counties are preparing to increase their minimum wages according to a report given exclusively to USA TODAY by the National Employment Law Project (NELP), a worker advocacy organization. 

Fifteen dollars an hour will become the base pay in Massachusetts and Washington for the first time, putting them in sync with California and most of New York. And the minimum wage will keep rising throughout 2023, ultimately leading to a record 86 jurisdictions – 27 states and 59 cities and counties – boosting their base pay, according to NELP.

Despite inflation, confidence grows 

Inflation remains high, and it costs more to borrow if you want to buy a home, but Americans are feeling better about the overall economy. The Conference Board's consumer confidence index increased to 108.3 in December, up from 101.4 in November – its highest level in eight months.

Consumers are also more upbeat about business and labor market conditions with the Conference Board index that measures those sentiments, increasing to 147.2 this month as compared to 138.3 in November.  

📰 More stories you shouldn't miss 📰

Social media may be spoiling the outdoors. Some outdoor destinations off the beaten path are being overrun by visitors thanks to social media, influencers and travelers say.

Alexa, how do I leave a tip? Amazon's "Alexa, Thank My Driver" program is bringing back $5 tips, enabling shoppers to express their gratitude with a tap of the retailer's apps or use of an Alexa-enabled device. The driver who dropped off the customer's most recent package will get a $5 tip.

It's never too soon to figure out your taxes. The holidays aren't over yet, but there are steps you can take before the new year that may save you money at tax time.

An Amazon Prime logo appears on the side of a delivery van as it departs an Amazon warehouse location in Dedham, Mass.
An Amazon Prime logo appears on the side of a delivery van as it departs an Amazon warehouse location in Dedham, Mass.
Steven Senne, AP

About The Daily Money

Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you.

Follow Charisse Jones on Twitter: @charissejones.

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