California’s new, higher minimum wage takes effect Jan. 1
December 29, 2021
With the increase that’s set for the new year, California will have the highest statewide minimum wage in the nation. Businesses with 25 or fewer employees must pay workers at least $14 per hour; bigger companies will pay a minimum of $15 per hour — that’s nearly double what’s required by the federal government. Given the labor shortage, however, many businesses started offering the higher levels months ago to get a jump on the limited applicants.
Recent News
Tesla’s Full Self Driving Approval in China Sparks Stock Surge
Tesla shares shot up over 12% early Monday as CEO Elon Musk got the nod to launch “Full Self Driving” (FSD) tech in China.
Domino’s Shares Soar as Pizza Chain Defies Sales Expectations
Domino’s shares were up by almost 7% in pre-market trading thanks to the success of its new loyalty programs and various promotional offerings.
Express’s New Owner Brings Post-Bankruptcy Hope to Beleaguered Retailer
Express’s bankruptcy filing earlier this month had analysts concerned about the popular clothing retailer’s survival, but news about its new owner has given a glimmer of hope to both Wall Street and consumers alike.
Fast-Food Chains in California Significantly Spike Prices on Menus
Restaurants in California are staying true to their word that menu prices would increase following the state’s rise in the minimum wage for fast-food workers.