Minnesota’s Hourly Minimum Wages Expected to Rise in 2021

Minnesota’s hourly minimum wage is expected to rise in 2021 to $10.06 from $10 for large employers and to $8.20 from $8.15 for small employers, according to Bloomberg Tax calculations.

The calculations were based on data and guidance provided by the Commerce Department’s Bureau of Economic Analysis and Minnesota statute (177.24).

The state’s hourly minimum wage has been adjusted annually for inflation since 2018, using the implicit price deflator, which was used for the Bloomberg Tax calculations. Minnesota is the first state to use the implicit price deflator for personal consumption expenses to index its minimum wage.

The ...