credit card stack money
pay up! flickr: Andres Rueda



The minimum wage in eight states is set to rise in 2012 by anywhere from 28 to 37 cents an hour, CNNMoney reports.

Colorado, Montana, Ohio, Washington and Oregon have announced their increases, while Arizona, Florida and Vermont are expected to announce theirs within weeks.

These eight states have laws that require them to adjust minimum wages to the cost of living. Four more states, California, Maryland, Illinois and Massachusetts, have introduced bills that might add a cost of living adjustment to their minimum wage.

The federal rate is $7.25 an hour, and isn’t pegged to inflation; ten states besides the above have minimum wages higher than the federal.