Inflation triggers California minimum wage increase in 2023
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A new minimum wage will take effect in California next year, an increase triggered by soaring inflation.
Gov. Gavin Newsom's administration announced Thursday that the state's minimum wage will jump to $15.50 per hour.
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The increase is required by a state law passed in 2016.
The law says the minimum wage must increase to $15.50 per hour if inflation increased by more than 7% between the 2021 and 2022 fiscal years.