(KNSI) – Minnesota’s minimum wage will adjust with inflation beginning on January 1st next year.
The rate will rise by 2.5% for both tiers. First is large employers, businesses with sales of at least $500,000 annually. They must pay at least $10.59 per hour today. That jumps to $10.85 in 2024.
The lowest pay rate for small employers, work exchange programs, training wages, and youth under 18 will be $8.85 per hour next year, up from $8.63. Businesses must send employees a notice detailing the change before it takes effect.
Minnesota Department of Labor and Industry Nicole Blissenbach says, “Increasing minimum-wage rates gives the lowest-wage workers in Minnesota more earning power as they work hard to support themselves and their families.”
The state minimum wage does not stop individual cities from setting a higher mandatory pay level.
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