Illinois’ Minimum Wage Among the Highest in the Nation

Photo of Sam Stebbins
By Sam Stebbins Published
Illinois’ Minimum Wage Among the Highest in the Nation

© claudiodivizia / iStock / Getty Images Plus

With decades-high inflation eroding incomes, families around the country are struggling to make ends meet. The problem is especially pronounced for those in minimum wage jobs, as the federal minimum wage stands at $7.25 an hour – and in 20 states, the minimum wage matches the federal figure.

Still, in some states, the minimum wage is higher. Some are also taking further action to reduce inflation’s impact on the pocketbooks of the lowest earning workers. Washington state, for example, will raise its minimum wage to over $15 an hour in January 2023.

In Illinois, the minimum wage was $12.00 an hour as of July 1, 2022, the 13th highest among states.

While Illinois has a higher minimum wage than most other states, many working families are still struggling. According to a study published by the Massachusetts Institute of Technology, a working adult in Illinois would need an hourly wage of $38.42 to support a family of four.

It is important to note that if employers are forced to pay their workers more, they may not be able to afford to hire as many employees, which could result in job losses and drive up unemployment. Illinois’s jobless rate of 4.8% in August 2022 is higher than the national rate of 3.7%

 

Rank State Minimum wage ($) August 2022 unemployment (%)
1 Washington 14.49 4.1
2 Massachusetts 14.25 3.5
3 Connecticut 14.00 4.3
4 California 14.00 4.1
5 Oregon 13.50 4.3
6 New York 13.20 4.9
7 New Jersey 13.00 3.7
8 Arizona 12.80 4.2
9 Maine 12.75 2.9
10 Colorado 12.56 3.3
11 Vermont 12.55 2
12 Maryland 12.50 4.4
13 Rhode Island 12.25 3.9
14 Illinois 12.00 4.8
15 New Mexico 11.50 4.4
16 Missouri 11.15 3
17 Virginia 11.00 3.2
18 Arkansas 11.00 3.5
19 Nevada 10.50 5.2
20 Delaware 10.50 4.6
21 Alaska 10.34 3.5
22 Minnesota 10.33 2.1
23 Hawaii 10.10 3.6
24 Florida 10.00 2.8
25 South Dakota 9.95 2.4
26 Michigan 9.87 4
27 Ohio 9.30 4.3
28 Montana 9.20 2.6
29 Nebraska 9.00 2.2
30 West Virginia 8.75 4.3
31 Wyoming 7.25 3.1
32 Wisconsin 7.25 3.3
33 Utah 7.25 2.1
34 Texas 7.25 4.2
35 Tennessee 7.25 3.5
36 South Carolina 7.25 3.2
37 Pennsylvania 7.25 4.8
38 Oklahoma 7.25 3.4
39 North Dakota 7.25 2.2
40 North Carolina 7.25 3.9
41 New Hampshire 7.25 2.3
42 Mississippi 7.25 3.8
43 Louisiana 7.25 3.8
44 Kentucky 7.25 3.7
45 Kansas 7.25 3.1
46 Iowa 7.25 2.9
47 Indiana 7.25 3.1
48 Idaho 7.25 2.7
49 Georgia 7.25 3.1
50 Alabama 7.25 2.9

 

Photo of Sam Stebbins
About the Author Sam Stebbins →

Sam Stebbins is a writer at 247WallSt.com where his primary focus is on government policy, politics, companies, and broad social and economic trends. Sam has been writing in the money and news verticals for over 8 years and holds a bachelor's degree from Hobart College, which he earned in 2010. Sam resides in upstate New York and enjoys hiking, biking, canoeing, and skiing in the Adirondack Mountains and across the Northeast.

Continue Reading

Top Gaining Stocks

SJM Vol: 5,284,521
APH Vol: 15,409,690
POOL Vol: 1,587,599
BLDR Vol: 3,106,921
CARR Vol: 10,221,016

Top Losing Stocks

CTRA Vol: 73,319,495
SMCI Vol: 51,854,942
GLW Vol: 16,673,394
NOW Vol: 35,824,740
ENPH Vol: 13,064,701