California expected to increase minimum wage to $15.50 per hour
CNN
California's minimum wage is expected to increase to $15.50 per hour next January because a state provision regarding inflation was triggered, Gov. Gavin Newsom's office said Thursday.
Newsom's office indicated in a release that the state's minimum wage law requires an accelerated increase when inflation goes beyond 7%. The Consumer Price Index, which measures a basket of goods and services, was up 8.3% in the 12 months ended in April, the Bureau of Labor Statistics reported Wednesday.
"The COVID-19 pandemic has resulted in persistent supply chain disruptions and labor market frictions have driven inflation to its highest rate in 40 years," the release said. "These conditions have further been exacerbated by Russia's war in Ukraine."
President Joe Biden asserted Friday that Hamas has been degraded to a point where it can no longer carry out the type of attack that launched the current 8-month conflict in Gaza, laying out a three-phase proposal Israel has submitted to wind down the grinding crisis as he declared, “It’s time for this war to end.