New Alaska minimum wage.

• Author: Slaten, Russ
• Position: INSIDE ALASKA BUSINESS

Alaska's minimum wage will increase to $8.75 an hour on February 24, which is $1 more than the current $7.75. An estimated sixteen thousand Alaska jobs currently pay $8.75 or less.

While the voter-approved Ballot Measure 3 called for a January 1 increase, in accordance with the Alaska Constitution the effective date is ninety days after the November 26 certification of election results by the Division of Elections--February 24.

The measure will also increase the minimum wage to $9.75 per hour on January 1, 2016, and adjust the minimum wage each year thereafter for inflation. The new law also requires evaluation...