London Markets: U.K. plans to hike minimum wage to £9.50. Here’s how that stacks up with what Americans are earning.

Ahead of the U.K. budget this week, the government announced Tuesday it would raise the minimum wage for those over 23 years old to £9.50 an hour, which is about a 6.6% hike.

In dollars, that’s about $13.11, and when it comes to how that stacks up with the U.S., fairly competitive depending on where you live. The American federal minimum wage is $7.25, but many states also have their own laws. California and Washington, D.C., offer the highest minimum wages at $14 and $15.20, respectively, while London would have New York’s…

This post was originally published on Market Watch

Financial News

Daily News on Investing, Personal Finance, Markets, and more!