Minnesota's minimum wage rates will increase to adjust for inflation on Jan. 1, 2024
MINNEAPOLIS -- Starting Jan. 1, 2024, Minnesota's minimum wage rates will increase to $10.85 for large employers and $8.85 for other state minimum wages.
"Increasing minimum-wage rates gives the lowest-wage workers in Minnesota more earning power as they work hard to support themselves and their families," said Nicole Blissenbach, the Commissioner for the Minnesota Department of Labor and Industry.
Though, there are some stipulations.
Large employers with a gross annual revenue of at least $500,000 will only be expected to pay employees at least $10.85 an hour. Similarly, small employers with a gross annual revenue of at least $500,000 will only be expected to pay $8.85 an hour.
This increase is up twenty-six cents from the current rate of $10.59 for large employers, and a twenty-two cent raise for other other state minimum wages.
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"Other state minimum wages" categorizes small-employer wages, youth and training wages, and summer work travel exchange visitor program wages.
This new increase also means a slight change in training pay.
Now, employees in training under the age of 20 will be paid the training wage of $8.85 an hour for the first 90 consecutive days of employment.
Also, all youth employees (i.e., anyone under the age of 18 years old) will be paid the youth wage which is also $8.85 an hour.
These new state wage increases only apply to work performed outside of the cities of Minneapolis and St. Paul, which have higher minimum-wage rates.
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