2024 Minimum Wage Changes
With a new year on the horizon, the minimum wage is increasing across multiple states. Much of these are scheduled increases that occur annually, however there have been a few unscheduled changes that employers should also be aware of.
For a comprehensive list of these changes, visit our 2024 Minimum Wage By City & State list.
For those based in Colorado, two new localities will have minimum wages that are above the state level. Previously, only the Denver area operated at a higher minimum wage, but now the city of Edgewater and unincorporated Boulder County will join it, at $15.02 and $15.69 per hour, respectively. For more information, you can view those localities’ ordinances (Edgewater and Boulder County).
For employers in Maryland, Howard and Montgomery County had different minimum wages, but the state minimum wage increased to $15 per hour means that they will be following the state minimum wage in 2024, provided there are no other increases. However, Montgomery County does have a higher minimum wage for tipped workers that employers still must follow.
For the first time, Connecticut has undergone an economic indicator adjustment. Starting January 1st, 2024, the state’s minimum wage will adjust annually, in addition to the increase from $15 to $15.69 per hour that will go into effect at the beginning of the year. For more information, you can read the governor of Connecticut’s press release here.
Exempt Salary Threshold
It’s important to note that in addition to minimum wage, some states are increasing their salary exempt threshold, which is the minimum salary a qualifying position can be paid in order to be exempt from overtime. States such as Alaska and Washington are increasing their thresholds effective January 1st, 2024 (increased to $48,796.80 per year in Alaska, and to $67,724.80 per year in Washington for all sizes of employers).
This is by no means a comprehensive list of all minimum wage and exempt salary threshold changes going into effect at the beginning of 2024 year. For more information, employers should check their state’s labor websites. For a comprehensive list, visit our 2024 Exempt Salary Threshold by City & State If you are a Vida HR client, you can reach out to your HR Business Partner for assistance.
Get day-to-day updates on 2024 Minimum Wage Changes, visit the Vida HR Knowledge Center (Vida HR Clients Exclusive).