State Minimum Wage Rate for Florida
STTMINWGFL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.00
Year-over-Year Change
66.88%
Date Range
1/1/2006 - 1/1/2025
Summary
The State Minimum Wage Rate for Florida tracks the minimum hourly wage employers must pay workers in the state. This metric is closely watched by economists and policymakers as an indicator of labor market conditions and cost-of-living pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Minimum Wage Rate for Florida represents the minimum hourly rate that must be paid to workers by employers operating within the state. This serves as an important benchmark for labor standards and worker protections, and is a key data point for analyzing state-level economic performance.
Methodology
The data is collected by the U.S. Department of Labor through surveys of employers and administrative records.
Historical Context
The Florida minimum wage rate is used by economists, businesses, and policymakers to assess the state's cost of living, labor market dynamics, and economic competitiveness.
Key Facts
- Florida's minimum wage is currently $11.00 per hour.
- The minimum wage in Florida is indexed to inflation and adjusts annually.
- Over 1 million Florida workers are paid at or near the state minimum wage.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Florida tracks the minimum hourly wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: The minimum wage is a key indicator of labor market conditions and cost-of-living pressures, making this data highly relevant for economists, policymakers, and businesses operating in Florida.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Department of Labor through surveys of employers and administrative records.
Q: How is this trend used in economic policy?
A: The Florida minimum wage rate is used by economists, businesses, and policymakers to assess the state's cost of living, labor market dynamics, and economic competitiveness.
Q: Are there update delays or limitations?
A: The Florida minimum wage data is updated annually and published with minimal delay.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Florida (STTMINWGFL), retrieved from FRED.