US minimum wage in Oregon in 2023
The state of Oregon has consistently taken progressive measures to ensure the economic security and well-being of its citizens. The state has adopted a minimum wage higher than the federal standard in order to provide workers with a more livable wage. As of 2021, Oregon’s minimum wage is $12.75 per hour, which is higher than the federal minimum wage of $7.25 per hour.
projections suggest that Oregon’s current minimum wage will increase over the next two years. The Oregon State Legislative Assembly recently passed the “Minimum Wage Increase Act of 2021.” This act proposed an increase of $1.50 per hour per year for the next two years – taking the minimum wage to $14.75 per hour on July 1, 2022; and to $16.25 per hour on July 1, 2023.
The workers who will benefit most from the increase in the minimum wage are younger employees, with low-wage workers making up the largest number of beneficiaries. Oregon intends to reduce income disparities between genders and other marginalized groups by raising the minimum wage. The bill states that the wage increase will “encourage self-sufficiency and create pathways to opportunity.”
Furthermore, the wage increase act also provides for regular adjustment for inflation each year. Oregon has a policy of indexing the minimum wage to the Oregon CPI-U, which provides a means of combating the effects of inflation. This means that workers in Oregon are protected from stagnant wages as the cost of living in the state rises.
Oregon is also focusing on passing laws that promote workforce flexibility, such as protecting workers’ right to earn extra wages when they work more than 40 hours per week. These important labor policies ensure that Oregonians have access to fair wages and decent working conditions.
The minimum wage increase act will provide a much-needed boost to Oregon’s economy, and offer some significant benefits to the citizens of the state. In 2023, Oregon’s minimum wage will rise to $16.25 per hour – providing Oregon’s workers with much-needed financial stability and security. This act has widespread support from labor unions, worker advocacy groups, and progressive elected officials; ensuring the continued success of Oregon’s working families in the long-term.