Warren Buffet once stated rule number 1 is “never lose money;” and rule number 2 is “never forget rule number 1.” Florida workers believe they are unfairly losing money as a result of a low minimum wage and have decided to take action.
Two legal groups are suing the Agency for Workforce Innovation (AWI) for violating the Florida Constitution by failing to increase the minimum wage, which is currently set at the federal rate of $7.25. In 2004, 72% of Florida residents voted to amend the state’s constitution to increase minimum wage annually to keep up with increased costs of living. Therefore, by failing to increase the minimum wage, the will of the voters has essentially been ignored by the AWI.
The suit alleges that the minimum wage in Florida fails to account for inflation, and that the minimum wage should have been increased by six cents an hour this year. For someone working 40 hours a week, this increase could make a difference of $128 annually. For workers making minimum wage, this goes to show that every penny counts, especially in this tough economy. If the six-cent increase is granted, it will affect approximately 188,000 workers across the state and could cost a total of about $15 million to employers.