With 2022 about to begin, Missouri employers must prepare for a new statewide minimum wage.
Missouri's minimum wage is scheduled to increase to $11.15 from $10.30 per hour on Jan. 1. It's one of 21 states starting the new year with a wage hike, according to a news release from Business for a Fair Minimum Wage, a national network of business owners, executives and organizations that favor increases.
"When the minimum wage is too low, it hurts workers who can’t afford the basics and it hurts businesses that count on customers with money to spend," said Holly Sklar, CEO of Business for a Fair Minimum Wage, in the release. "Minimum wage raises pay off in increased consumer spending and better employee retention, productivity and customer service."
Missouri's minimum wage is slated to grow to $12 per hour in 2023, and beyond that, it will be indexed for the cost of living, according to the release.
Approved by 62% of Missouri voters in November 2018, Proposition B increases the state minimum wage in increments of 85 cents per hour through 2023, according to past reporting. Business for a Fair Minimum Wage was among supporters of Prop B.
Read the profiles of this year's honorees.