Minimum Wage Increase Means You Can Send Money to Mexico More Often
Some Mexicans have migrated to California in order to find better job opportunities. They often send money to Mexico to assist friends and family members back home. Unfortunately, along with better job opportunities comes a higher cost of living. Immigrants can be shocked to see how expensive California living is. If you’re working a minimum wage job, the pain of high living expense is even more burdensome. Now, there is good news! Recently, a law was tentatively passed that will increase the minimum wage to $15 by the year 2022. Currently at $10, the minimum wage could go up in increments, giving small businesses a chance to adjust.
This recent change would make California the state with the highest minimum wage. Labor unions helped to quality the minimum wage ballot initiative by gathering the necessary signatures of 365,880 people. A few Bay Area cities have already passed legislation that supports an increase in minimum wage prices before 2022. By 2017 Emeryville is expected to have a $15 minimum, and workers in San Francisco, Mountain View and Sunnyvale should be at $15 by 2018. Following behind them is El Cerrito which will reach the $15 minimum by 2019. Under this deal, the first two years will see a rate increase of 50 cents. After that it will increase a dollar each year until $15 is reached.
While politicians and the labor union are still in negotiation, this minimum wage increase could halt if there appears to be a stall or serious economic turndown.
Apart from the worst case scenario, this will mean great news for the economy. If you’re someone who consistently sends money remittance to your family, this will be a welcome increase to your pocket book. More money enables you to send more financial assistance to family abroad. It could also simply give you the ability to save more.
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Now money transfer to Mexico won’t be such a burden when you have the extra cash. It will be especially easy if you work with a company that offers affordable online rates for money transfers . If you are looking for a quick and easy way to send money to loved ones abroad, contact Lucky Money at email@example.com or call 1-888-826-4427 if you have questions.