What is happening: The US states of Arkansas and Missouri are both set to raise minimum wage.
Why is this happening: Ballot measures were passed in each of the states on Tuesday.
When is this happening: Arkansas will raise their minimum wage from $8.50 to $11 by 2021. Missouri will raise theirs from $7.85 to $12 by 2023.
Corporate: Arkansas is home to the Walmart HQ, with Missouri featuring some major companies including Amazon. These changes will affect big employers like these. Missouri is currently experiencing an industrial real estate boom. However, Walmart increased their own minimum wage to $11 this year, and Amazon’s sits at $15 for internal minimum wage, so these two companies may not be affected too badly.