Minnesota’s Minimum Wages Projected to Increase 2.5% in 2024

Minnesota’s hourly minimum wages are expected to rise to $10.85 for large employers and $8.85 for small employers effective Jan. 1, 2024, according to Bloomberg Tax calculations.

The minimum wage rate is also projected to increase to $8.85 in 2024 for employees under age 18 working for large employers and for employees under age 20 who are in their first 90 days of employment.

The projected minimum wages for 2024 reflect a 2.5% increase from the current hourly minimum wage rates of $10.59 and $8.63. The calculations were based on Minnesota statutes and federal data provided by the US Commerce ...