Vermont's minimum wage will increase from $7.25 to $7.53 per hour on January 1, 2007, Governor Jim Douglas announced.
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Get Your Report Now!Vermont is one of 10 states to approve legislation linking future increases to the minimum wage to inflation.
In Vermont, the minimum wage will increase at the same rate as the 12 month increase in the Consumer Price Index. The Consumer Price Index increased by 3.8 percent for the 12 month period ending in August.
For employers of "tipped" employees, the minimum base wage will stay at $3.65 per hour. If the combination of $3.65 per hour, plus the amount of tips does not average at least $7.53 per hour, employers must make up the difference.
In last week's election, six states--Arizona, Colorado, Missouri, Montana, Nevada, and Ohio--voted to boost their state's minimum wage and link future increases to inflation. Once those changes take effect, 29 states will have minimum wages above the federal level.