It's about to get more costly for businesses to operate in the nation's second- and third-largest American cities.
The cities of Los Angeles and Chicago both have local minimum wage ordinances going into effect July 1 that will increase the mandated hourly wage 5 percent to $10.50 per hour from $10 previously. On the same day, both San Francisco and Louisville, Kentucky, will also see new higher minimum wages in their cities. San Francisco's hike will boost the hourly rate 6 percent to $13 per hour from $12.25 previously, while Louisville's minimum wage will rise 6 percent to $8.25 per hour from $7.75.
Overall, researcher Evercore notes that four counties and seven municipalities nationally will get a jump in minimum wages between July and October. Among them are two counties in Maryland — Montgomery and Prince George's — where minimum wages are set to soar nearly 13 percent to $10.75 from $9.55 on Oct. 1.