Several states and local jurisdictions will increase their minimum wage rates on July 1, 2024. Below is a summary of these changes and guidelines to help you comply with your minimum wage requirements. As a reminder, when federal and state or local payroll laws differ, the employer must adhere to the law that benefits the employee the most.
July 1, 2024, is fast approaching, and with that comes new minimum wage rates. These hot new summer rates will impact jurisdictions at the state, county, and city levels.
To be exempted from overtime and minimum wage as a highly compensated employee (“HCP”), the final rule increases the amount of annual compensation an employee earns to: Beginning July 1, 2024, $132,965 or more per year; increased from the current amount of $107,432 (at least $684 per week). Beginning July 1, 2025, $151,164 or more per year.
A significant raise went into effect on July 1, 2024, and another was set to go into effect on January 1, 2025, creating more stringent requirements for employers to exempt employees from the FLSA. These raises were nullified by the District Court decision.
22 increases were set to take effect on January 1, 2024; two were set to take effect (in Oregon and Nevada) on July 1, 2024; and one was set to take effect in Florida on September 30, 2024. Going into 2024, 20 states used the federal minimum wage rate of $7.25, and 30 states provided for state minimum wages above the federal minimum wage.
Excerpt: On July 1, 2024, multiple states and local jurisdictions will implement new minimum wage rates. Learn about these changes to stay compliant and informed.
Jan. 1, 2024 The minimum wage rate is expected to increase in 25 states.
In WHD’s continuing efforts to modernize the wage determinations program, effective July 1, 2024, food and lodging, halfway house, and moving and storage non-standard wage determinations will be withdrawn. Please incorporate the applicable area-wide wage determinations for food and lodging, halfway house...
More than a dozen cities, two states and Washington, D.C., raised their minimum wages on July 1, the halfway point of the calendar year. The increases mean tens of millions of residents are now covered by stronger minimum wage laws. Minimum wage laws are meant to improve living standards for low-income workers.
Which states updated their minimum wage rates in Summer 2024? While most states update their wage rates at the beginning of the year, two states (Oregon and Nevada) and Washington D.C. increased their minimum wage rates on July 1, 2024.
Some minimum wage workers saw pay raises as of July 1. Wages went up in two states plus Washington, D.C., and several cities throughout the U.S.
With an anticipated increase in workers no longer subject to exemption from overtime pay under a new U.S. Department of Labor rule that is scheduled to take effect on July 1, 2024 (learn more here ...
Local Minimum Wage Increases Several cities and counties are also increasing their minimum wage effective July 1st, 2024. Where the location separates micro, small, mid-size, large employers, we have linked their DOL site for definitions.
HR compliance begins with managing the minimum wage standards. This article covers the 2024 and 2025 state minimum wage changes.
While we believe this to be an accurate interpretation of state labor laws, this information should not be taken as legal advice, nor should it be a substitute for the independent advice of counsel. In cases involving local wage and hour laws, we suggest employers seek out local counsel. Prepared for the Employment Policies Institute.
