Great news if you are living off minimum wage. As of January 1, 2024, the minimum wage has been increased to $12.30 per hour.

This will be the 8th minimum wage increase in Missouri since 2015 when it was $7.65 an hour.

If you work in the restaurant biz and are a “tipped” employee, you will receive 50% of the minimum wage, which will now be $6.15, plus any amount necessary to bring the employee’s total compensation to a minimum of $12.30 per hour.

What can we expect?  Higher prices in products and services to compensate for higher minimum wage increases for business employees.