Minimum wage is set to increase in just over two months

Vermont’s minimum wage is set to increase in just over two months. Right now, the minimum wage stands at $13.18 an hour. On Jan. 1, 2024, it will rise to $13.67. The state doesn’t keep data on employers’ wage data, but experts say few businesses are offering minimum wage. Economists say that’s because we have a tight labor market. There are about 18,000 open jobs and only about 3,000 people claiming unemployment benefits. For many years, our minimum wage has been tied to the rate of inflation. And at times, lawmakers have set minimum wage benchmarks by state law. For years, lawmakers at the Statehouse have been mulling whether to raise the minimum wage to $15 an hour. The new minimum wage rolls into effect on Jan. 1, and if you’re making less than that at your job, you should report it to the Labor Department.