Monday, May 12, 2008

Missouri’s Minimum Wage has increased to $6.65 per hour in 2008

Missouri's minimum wage has increased by 15 cents from $6.50 to a new rate of $6.65 per hour on January 1, 2008.

The minimum wage for tipped employees has also increased – from $3.25 per hour to $3.325 per hour. Employers must pay tipped employees at least 50 percent of the minimum wage.

Missouri Department of Labor and Industrial Relations must do study using the Consumer Price Index, and then determine the increases or decreases of the minimum wage for the coming year.

That initiative hiked the basic wage from $5.15 to $6.50 per hour in 2007 and the 2008 increase in the minimum wage was based on a 2.2 percent change in the Consumer Price Index between July 2006 and July 2007.The minimum wage law does not apply to retail or service businesses with annual sales of less than $500,000. All other businesses need to pay employees the minimum wage.

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