Florida Minimum Wage 2024 Increase In India. The last significant update to florida’s minimum wage before this series of changes occurred in 2008, with an increase of $4.21. The current minimum wage rate in florida is currently set to $12 per hour, but after voters approved a state constitutional amendment in 2020, the minimum wage rate will increase every year until it reaches $15 per hour by 2026.

The minimum wage increase will have positive effects for minimum wage workers, but may also have negative effects for small businesses. Florida’s minimum wage will increase to $10 per hour in 2024, with the elimination of the tip credit and future annual adjustments.