More than half of U.S. states will raise their minimum wage in 2022, but employers are hiking pay faster

California’s largest businesses will be required to pay workers a minimum of $15 an hour in January.

It’s a milestone fast-food workers have been trying to achieve since 2012. But anti-poverty activists aren’t satisfied. Citing the state’s high cost of living and rising inflation, they are pushing for more.

Activist and investor Joe Sanberg is financing the attempt to gather enough signatures in California to get a ballot initiative in front of voters for the November election. Sanberg, who has talked about potentially running for president, wants the state’s minimum...