In the vibrant city of Miami, discussions surrounding the minimum wage are not only pertinent to the local workforce but also play a crucial role in shaping the economic dynamics of the USA overall.
As of the latest available data, the minimum wage in Florida is $13.00 per hour in 2024. That means that Florida’s workers receive a higher minimum wage that exceeds the federal minimum wage of $7.25.
The increase in the minimum wage in Miami has been driven by several factors, including the high cost of living in the city. Miami is a top tourist destination, and the high cost of living has made it difficult for low-wage workers to afford to live there.
This article aims to provide insight into the current minimum wage scenario in Miami while highlighting the potential for future changes.
If you are a minimum-wage earner, delving into these aspects will offer you a comprehensive understanding of the present state of affairs and shed light on what the future may hold for you in this dynamic and diverse city.
Also, if you are an hourly employee in Miami, you can use our simple Miami, FL paycheck calculator to estimate your net or “take home” pay after taxes.
Florida’s Minimum Wage Changes From 2021 And Beyond
As we mentioned before, the current minimum wage in Florida is $13.00 per hour. The tipped minimum wage is $8.98 per hour. But the citizens of Florida have been fighting for this hourly rate for a long time. How?
In November 2020, Florida voters gave the green light to a state constitutional amendment aiming to incrementally boost the minimum wage annually until it hits $15.00 per hour by September 30, 2026.
To comply with this amendment, employers were and must implement the following hourly minimum wage schedule for non-tipped employees:
January 1, 2021: $8.65
September 30, 2021: $10.00
September 30, 2022, $11.00
September 30, 2023, $12.00
September 30, 2024: $13.00
September 30, 2025: $14.00
September 30, 2026: $15.00
Starting in 2027, the minimum wage will be adjusted annually for inflation and indexed based on the applicable Consumer Price Index.
What Is the Current Living Wage in Miami?
The calculated living wage for a single adult with no children in Miami is approximately $14.43 per hour. The minimum wage is currently $13.00 per hour, so it is obvious that the living wage is still high for many people.
On the other hand, while the increase in the minimum wage in 2024 has been beneficial for some low-wage workers, it has also led to businesses raising prices and cutting jobs.
Most individuals employed in Miami belong to the lower income bracket, earning an annual salary below $35,000. And the majority of them are employed in the service industry.
Some of the lowest-paying jobs in Miami include fast food workers, retail sales associates, and dishwashers, while some of the highest-paying jobs include financial analysts, software engineers, and doctors.
According to all this data, with the current minimum wage, a large number of workers can barely survive in Miami, even though the cost of labor is among the highest in the USA.
However, the proposed state minimum wage amendment from 2020 would bring it closer to the living wage in some of these cities, particularly Miami and Orlando. Also, the minimum wage will increase annually, potentially surpassing the current living wage in some cities by 2026 or 2028.
What Is the Florida Overtime Minimum Wage?
All workers who work over 40 hours a week are entitled to a minimum wage of at least 1.5 times the regular applicable minimum wage. The Florida law does not specify a daily overtime limit.
In 2024, the FL overtime wage is approximately $19.50 per hour.
By Florida law, if your employer does not pay you adequate overtime wages, you can file an unpaid overtime claim with the Florida Department of Labor.
What Are The Florida Minimum Wage Exemptions?
Most employees who are covered by the Fair Labor Standards Act (FLSA) are also covered by the Florida minimum wage law, but the Federal FLSA defines special minimum wage rates applicable to certain types of workers. Under this legislation, you might receive compensation below the Florida minimum wage if you fall into any of the subsequent categories:
• Under 20 minimum wage – $4.25 – Federal law allows any employer in Florida to pay a new employee who is under 20 years of age a training wage of $4.25 per hour for the first 90 days.
• Student minimum wage – $11.05 – Full-time high school or college students who work part-time may be paid 85% of the Florida minimum wage for up to 20 hours of work per week at certain employers.
• Tipped minimum wage – Employees who earn a certain amount of tips every month may be paid a lower cash minimum wage but must earn at least $13.00 including tips every hour.
Is It Possible for Miami to Establish Its Local Minimum Wage?
No, Miami is under state law, so local (city) governments are not allowed to establish their minimum wages. The state’s minimum wage rate applies to all cities within Florida.
How Will the Upcoming Presidential Election Impact Potential Changes to Florida’s Minimum Wage Laws?
The upcoming presidential election can potentially impact changes to Florida’s minimum wage regulations in various ways.
If a new president is elected and supports an increase in the federal minimum wage, this could lead to an increase in Florida’s minimum as well.
Also, the outcome of the presidential election could influence public opinion and political pressure surrounding issues related to wages, including increasing the minimum wage. This could potentially lead to more action toward adjusting Florida’s minimum wage.
Generally, although there are no direct correlations between presidential elections and alterations to Florida’s minimum wage regulations, the 2024 election’s repercussions may indirectly influence prospective changes via shifts in federal policy, state laws, voter propositions, and political influence.
How Do Potential Changes to Immigration Policies Affect Discussions About Possible Changes to Florida’s Minimum Wage?
Changes to immigration policies at the federal level can potentially impact discussions about possible changes to Florida’s minimum wage in several ways.
First, alterations to immigration policies have the potential to influence Florida’s labor market and the availability of workers, consequently affecting the demand for labor and wages.
Stringent policies restricting the entry of foreign workers may result in a reduced labor supply, prompting employers to compete for a smaller pool of available workers and potentially leading to an increase in wages.
Conversely, more permissive immigration policies that facilitate increased immigration may expand the labor supply, potentially exerting downward pressure on wages.
Second, immigration politics may also have an impact on industries that heavily rely on immigrant workers, such as agriculture or hospitality. If these industries experience labor shortages due to immigration policies, they may advocate for lower minimum wages.
Final Words
The landscape of minimum wage in Miami reflects a dynamic interplay between economic factors, living costs, and labor market dynamics.
The ongoing discussions surrounding potential future changes underscore the importance of considering the unique economic challenges and cost-of-living considerations in the city.
While the current rate strives to provide a baseline for workers, the advocacy for future increases often revolves around addressing the high cost of living, reducing poverty, and promoting economic equity.
As Miami continues to evolve, keeping a vigilant eye on any proposed legislative changes at the state or federal level will be crucial. The future of minimum wage in Miami, as in any region, remains closely tied to the broader economic policies and societal values that shape the workforce and its well-being.
