State announces minimum wage rate increases for 2024

The minimum wage in Minnesota will increase in 2024, with large employers paying $10.85 an hour and small employers paying $8.85, excluding Minneapolis and St. Paul which have higher minimum wages.

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Relevant topic timeline:

8/23/2023

In a Hot Job Market, the Minimum Wage Becomes an Afterthought

The minimum wage is becoming increasingly irrelevant as a result of a hot job market that has led to higher pay across industries and rendered the minimum wage largely meaningless in many states, with few workers earning the federal minimum wage.

9/12/2023

California Groups Reach Deal to Raise Minimum Wage to $20/hr, Averting Ballot Fight

California restaurants and unions have agreed to raise the minimum wage for fast-food workers to $20 per hour, avoiding a potential ballot fight over a previously passed law.

9/15/2023

GOP Senators Propose $11 Minimum Wage for Citizens Only, Requiring E-Verify

Republican Senators Tom Cotton of Arkansas and Mitt Romney of Utah have reintroduced the Higher Wages for American Workers Act, which proposes a minimum wage hike to $11 for legal workers who verify their American citizenship, as well as the use of E-Verify to confirm citizenship and penalties for employers who hire illegal immigrants.

9/20/2023

Bank of America Raising Minimum Wage to $23/hr in October, Part of Plan to Reach $25/hr by 2025

Bank of America plans to increase its minimum hourly wage to $23 in October and aims to raise it to $25 by 2025.