ORLANDO, Fla. – Florida‘s minimum wage is set to increase again on September 30, rising to $8.46 per hour. This is the next step in a phased-in increase mandated by Amendment 2, which voters approved in 2020.
The amendment, spearheaded by Morgan & Morgan founder John Morgan as chairperson of the political committee florida For A Fair Wage, will continue to raise the minimum wage by $1 each year until it reaches $15 per hour on September 30, 2026. Morgan framed the effort as a “moral,ethical and religious” fight to eliminate “slave wages,” and invested millions of his own money into the campaign. The amendment passed with just over 60% of the vote, the minimum threshold required.
The wage hike will directly impact an estimated 2.5 million Floridians, according to the Florida Policy Institute. While proponents celebrate the increase as a boost for low-wage workers, opponents, like the Florida Chamber of Commerce, have warned of potential negative consequences for small businesses and entry-level job opportunities.
UCF Economist sean Snaith cautioned that artificial price floors like minimum wage increases can lead to reduced hours and benefits for lower-income workers, and potentially even unemployment. “When the minimum wage is set above the market wage, that is going to create a surplus of labor in the labor market that may or may not manifest itself as higher unemployment,” Snaith told News 6 following last year’s increase.
