Minimum Wage to increase in Maryland & Delaware on January 1st
DELMARVA – Some good news is coming for part-time workers in Maryland and Delaware ahead of the new year, as the beginning of 2023 mans another minimum wage increase.
Both states are continuing to inch toward the 2025 goal of $15 an hour.
Maryland currently offers $12.50 per hour for minimum wage, which will now be bumped up to $13.25 as of January 1st. Meanwhile, the First State offers $10.50 an hour, which is set to increase to $11.75 on January 1st.
Dorchester Chamber of Commerce President Bill Christopher spoke with us about what these wage increases mean for employers, employees, and the local economy.
“Because of the rate of inflation, their [employees] buying power is actually less. So, they’re actually being paid more but because of inflation, their buying power is less, and that’s truly what will happen with continuing to raise the minimum wage,” says Christopher.
When asked about how employers will be impacted, he went on to say, “They will adjust their prices up appropriately so that basically they’re getting more value out of what they’re paying for so that means they charge more.”
Christopher also told us this increase could lead to businesses hiring less staff as they adjust to higher payroll.
He says he also believes Maryland could make the jump to $15 an hour well before the 2025 goal, maybe even as early as this summer.