Many state and local jurisdictions across the country will see moderate increases to their minimum wage rate on January 1, 2024. In fact, the current count of jurisdictions with a minimum wage increase on that date is a whopping 63! Most of these changes are the result of laws that provide for an automatic increase in the minimum wage each year tied to the inflation rate. The size of these increases is significantly smaller than those seen last year, when inflation rates were sky high. Many of the increases this year are in range of 40 to 60 cents per hour.
After these increases go into effect, the highest minimum wage in the country will be $19.06 in SeaTac, Washington, although this rate only applies to employers in the transportation and hospitality industries. The highest minimum wage rate that applies to all industries is in nearby Tukwila, Washington, where the minimum wage will increase to $18.99.Unfortunately, even after these minimum wage increases go into effect on January 1st, the minimum wage watch will not go into hibernation until January 1, 2025. Instead, the minimum wage in Sante Fe, New Mexico will increase on March 1, 2024 (Santa Fe has not yet announced what this new rate will be). Then on July 1, 2024, the minimum wage will increase in 20 different locations. Additionally, other jurisdictions will likely enact new minimum wage laws that national employers will need to track in 2024.