Yearly, the commissioner of the Minnesota Division of
Labor and Business proclaims the inflation-adjusted minimal wage
fee. Accordingly, on January 1, 2023, the Minnesota minimal wage
fee will enhance from $10.33 per hour to $10.59 per
hour for “giant employers” (i.e., employers whose annual
gross revenues are $500,000 or extra) and $8.42 per hour to $8.63
per hour for “small employers” (i.e., employers whose
annual gross revenues are lower than $500,000).
Minnesota regulation additionally mandates that employers show numerous office
posters of, amongst different issues, the present minimal wage.
Along with the state of Minnesota’s minimal wage fee
changes, the cities of Minneapolis and St. Paul have minimal
wage charges which are set to extend—some charges in January
(as a substitute of in July, as is often the case) and others in
July.
For Minneapolis, the minimal wage fee for small companies
(i.e., 100 or fewer staff) will enhance from $13.50
per hour to $14.50 per hour on July 1, 2023. The minimal wage fee
for big companies (i.e., multiple hundred staff) will
enhance from $15.00 per hour to $15.19 per
hour on January 1, 2023. Employers with Minneapolis-based staff
are additionally required to show a office poster displaying the town’s
minimal wage fee.
For St. Paul, the scenario is barely extra
advanced. For “macro companies”—these with 10,001
or extra staff—the minimal wage will enhance from $15.00
per hour to $15.19 per hour on January 1, 2023. For “giant
companies” (101 to 10,000 staff), the minimal wage will
enhance from $13.50 per hour to $15.00 per hour on July 1, 2023.
For “small companies” (six to 1 hundred staff),
the minimal wage will enhance from $12.00 to $13.00 per hour on
July 1, 2023. Lastly, for “micro companies” (5 or
fewer staff), the minimal wage will enhance from $10.75 per
hour to $11.50 per hour on July 1, 2023. St. Paul employers are
required to show a office poster displaying the minimal wage
charges for St. Paul-based staff.
Provided that 2022 is shortly concluding, employers with
Minnesota-based staff might need to take into account reviewing their pay
practices to make sure compliance with these new adjustments and replace
bulletin boards, on-line bulletin boards, and different posting
areas.
The content material of this text is meant to offer a normal
information to the subject material. Specialist recommendation needs to be sought
about your particular circumstances.