SPRINGFIELD, Ill. (AP) — In a story Feb. 12 about a proposal to raise the Illinois minimum wage, The Associated Press incorrectly reported that the value of a $15 minimum wage in 2025 would be about $10.46 in today’s money, assuming an annual inflation rate of 2.1 percent. At that rate, it would be worth nearly $13.
A corrected version of the story is below:
Analysis: Inflation cuts into Illinois $15 minimum wage plan
Nearly a quarter of workers in Illinois would see their pay almost double under a proposal nearing final approval in the Legislature, but inflation will take a bite by the time the state’s minimum wage reaches $15 an hour in 2025.