Minimum Wage in Minneapolis Increased Over Weekend
As part of a plan to see minimum wage increase in Minneapolis, the next phase of an increase plan was implemented over the weekend.
The beginning of the year saw a new ordinance go into effect in the city of Minneapolis that would increase minimum wage to $15 per hour by 2024. As of January 1, 2018 large businesses (any business with 100 or more employees) were required to pay a minimum of $10 per hour. As of the weekend -- July 1 -- minimum wage is now $11.25 per hour for large businesses and $10.25 for small businesses.
The plan is to increase minimum wage for large businesses by $1 each year through 2022, capping at $15 per hour. Small businesses will increase every year through 2024 anywhere between 75 cents and $1 until minimum wage is equal to that of large businesses at $15. Tips do not count towards hourly wages.
|Date||Small business: 100 or fewer employees||Large business: more than 100 employees|
|Jan. 1, 2018||No increase||$10|
|July 1, 2018||$10.25||$11.25|
|July 1, 2019||$11||$12.25|
|July 1, 2020||$11.75||$13.25|
|July 1, 2021||$12.50||$14.25|
|July 1, 2022||$13.50||$15|
|July 1, 2023||$14.50||Indexed to inflation|
|July 1, 2024||Equal to large business||Indexed to inflation|
According to the city of Minneapolis, "There are more than 84,000 people in Minneapolis with incomes below the federal poverty level. An increase in the minimum wage to $15 an hour would benefit 23 percent of workers in Minneapolis (about 71,000 people). Of this number a majority are low-wage workers of color."
Source: Bring Me the News