Las Vegas Sands Corp. (LVS), Wynn Resorts, Limited (WYNN): These 6 States Have the Highest Minimum Wages

1. Washington

Finally, Washington currently tops the nation with a $9.19-per-hour minimum wage. The wage is indexed to the federal Consumer Price Index. Employers can pay workers who are 14 or 15 years old just 85% of the prevailing minimum wage. Even with the top figure in the country, however, a report from the Alliance for a Just Society found that a single adult would need to earn $16.13 an hour in the state to support basic household needs.

What the minimum wage means for investors

The minimum-wage debate often leads investors to focus on McDonald’s Corporation (NYSE:MCD) and its fast-food peers, Wal-Mart Stores, Inc. (NYSE:WMT) and similar retailers, and other businesses where relatively low wages are an integral part of the viability of their business models. Yet many workers at those businesses earn more than the minimum wage, making increases largely moot. Moreover, the fact that McDonald’s Corporation (NYSE:MCD), Wal-Mart Stores, Inc. (NYSE:WMT), and similar businesses maintain profitable operations in Washington, Oregon, and other higher minimum-wage-rate states suggests that companies can make adjustments to remain successful — albeit perhaps at some cost to investor profits.

With the House of Representatives having rejected in March a Democratic push to raise the minimum wage to $10.10, the idea of a higher minimum wage is likely to be on hold for the foreseeable future. Meanwhile, these states will act as case studies to give evidence of the impact of higher wages on state economies.

The article These 6 States Have the Highest Minimum Wages originally appeared on Fool.com and is written by Dan Caplinger.

Fool contributor Dan Caplinger has no position in any stocks mentioned. You can follow him on Twitter: @DanCaplinger. The Motley Fool recommends and owns shares of McDonald’s.

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