Minimum Wage Hike in Florida

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Thousands of Floridians earning minimum wage will see a small increase in their paychecks come next January.

Sara Peck is a Florida State student working at a sandwich shop on Tennessee Street with hopes of putting some extra cash in her pocket.

Sara Peck said, "I really just need a part-time job on the side. I'm taking full-time classes so I can only work on the weekend."

So Peck isn't rolling in the dough just yet. Instead she's just scraping by on minimum wage, but come January, Florida residents who are earning minimum wage will get 27 cents more. That's a 4.2 percent increase in their paychecks.

Warren may said, "There's an escalator in there and every year the Agency for Workforce Innovation calculates the increase based upon inflation, so we index it to the CPI and we increase it every year, so the first year it increased to $6.40. Now it's $6.67."

And although the new wage hike is an added bonus for employees, small businesses say the increase could "spread" to the consumer.

Aaron Garrett said "Products become more expensive for food distributors, and grocery cost become expensive because the minimum wage. It becomes expensive for them to get those services, so in the long run it becomes more expensive."

It’s an expensive tradeoff some say is slicing into the pockets of everyone involved.

Florida's minimum wage was created in a constitutional amendment approved by voters in the November 2004 election. The new pay hike will be $1.52 cents more than the current federal minimum wage.