Since 2005, Florida’s minimum wage has been calculated based upon a calculation by the Department of Economic Opportunity (“DEO”) to increase the state minimum wage by the rate of inflation for the prior year. In Florida, the minimum wage does not decrease due to deflation. The adjusted minimum wage is published each November 15th for the following calendar year. Currently, Florida’s minimum wage is $8.25 per hour, with tipped employees who’s employers are taking a tip credit have a direct wage minimum of $5.23 per hour.
On January 9, 2018, Florida Democrats introduced legislation (HB1441/S166) seeking to amend the State Minimum wage statute, Fla. Stat. §448.110, to adjust the current formula for determining the state minimum wage. The legislation seeks to add $1 to the 2018 minimum wage beginning on September 1, 2018, and an additional $1.50 for each subsequent year through 2023.
While the actual minimum wage through 2023 cannot be calculated because it is tied to the rate of inflation, the additional adjustments proposed by this legislation would increase minimum wage in 2023 by an additional $8,50 per hour, to a minimum of $16.75 per hour.