Puerto Rico’s governor has signed a invoice to extend the U.S. territory’s minimal wage for the primary time in additional than 12 years
SAN JUAN, Puerto Rico — Puerto Rico’s governor signed a invoice Tuesday to extend the U.S. territory’s minimal wage for the primary time in additional than 12 years.
The present minimal pay of $7.25 an hour will improve to $8.50 in January and to $9.50 in July 2023. A 3rd improve to $10.50 is contemplated for July 2024, however would require additional approval.
Gov. Pedro Pierluisi mentioned the primary improve may signify a further $2,000 a yr for a full-time employee.
Many cheered the transfer, given the excessive price of residing on an island struggling to emerge from a deep financial droop because it restructures a portion of its greater than $70 billion public debt by way of a bankruptcy-like course of.