Florida voters have voted yes to gradually increasing the minimum wage to $15 an hour, making it the first state in the South to have done so. 

Florida Amendment 2, also known as the $15 minimum wage initiative, was approved by around 61% of voters. The initiative required a 60% supermajority vote rather than a simple majority. 

The Amendment will cause the minimum wage to increase to $10 an hour on Sept. 30, 2021. Each year subsequently will increase by $1 until it reaches $15 in 2026. After that, the minimum wage will continue to be adjusted for inflation. 

The amendment also states that as of Sept. 30, 2027, the minimum wage in Florida must be adjusted based on the Consumer Price Index for Urban Wage Owners and Clerical Workers (CPI-W), which means wages will be adjusted according to consumer prices. 

According to reports on a minimum wage simulation model developed by the Economic Policy Institute, this amendment will increase wages for 2.5 million Floridians, which is a little over a quarter of the workforce of the state. The report also finds that this amendment will help many households out of poverty while also bringing workers of all ages to a more livable wage. 

While many consider this as a win, others fear this will mean an increase in prices as a whole and cause workers to get fewer hours due to the increased wages. As Florida is one of only eight states to raise the minimum wage to $15, the effects it could have on the economy can only be guessed. 

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