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Minimum wage in Montana will increase on January 1st


GREAT FALLS — #Montana’s minimum wage will increase from $8.65 per hour to $8.75 per hour beginning on #Friday, #January 1, 2021.

The state reports that an estimated 8,000 to 10,000 #Montana workers, or about two percent of the workforce, received hourly wages less than $8.75 per hour in 2020.

#At the beginning of 2020, the minimum wage in #Montana was raised from $8.50 to $8.65.

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The minimum wage is determined by taking the current minimum wage of $8.65 and increasing it by the CPI-U increase from #August of 2019 to #August 2020. The CPI-U increased by 1.31% (unadjusted) over the year ending #August 2020.

#To keep the minimum wage at the same purchasing power as the prior year, the wage should increase by $0.11 per hour, according to the #Montana #Department of #Labor & #Industry. #However, since state statute requires the wage to rounded to the nearest 5 cents, the 2021 minimum wage rate will be $8.75.

#In 2020, the #District of #Columbia and 29 U.S. states, including #Montana, have minimum wage rates that exceed the federal rate of $7.25 per hour.

#From the U.S. #Department of #Labor (website):

#Minimum wage by state





[ source link ]
https://www.krtv.com/news/montana-and-regional-news/minimum-wage-in-montana-will-increase-on-january-1st

##Minimum #wage ##Montana #increase ##January #1st

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