The City of Minneapolis has approved raising its minimum wage to $15 per hour by 2024, after a long debate among business owners, workers, and the city council.
The federal government has not raised the minimum wage since 2007, leading a number of states, counties, and cities to put forward plans to raise the minimum wage on their own. Minneapolis now joins cities such as Seattle, San Francisco, and New York City who have done just that.
What is the purpose?
To increase the minimum wage in an effort to promote the health, safety, and welfare of those who work within the city’s borders.
Who does this effect?
Employees who work within the boundaries of Minneapolis and who are typically based outside the city, but performs work at least two hours of work on a weekly basis for an employer within the geographic boundaries of the city.
When does this go into effect?
The phased approach begins Jan. 1, 2018 for small and large employers. Large businesses are defined as having more than 100 employees and small businesses as 100 or fewer workers.
Large Business: five years
Small Business: seven years
|Jan. 1, 2018
|July 1, 2018
|July 1, 2019
|July 1, 2020
|July 1, 2021||$14.25||$12.50|
|July 1, 2022||$15||$13.50|
|July 1, 2023||$15 indexed to inflation||$14.50|
|July 1, 2024||$15 indexed to inflation||$15|