2009 Missouri Minimum Wage
January 5th, 2009 Posted by DerrickMissouri state law (Section 290.502.2) requires that the state’s minimum wage must be adjusted every year based on the latest cost of living.
In charge of making that change is the Director of the Department of Labor and Industrial Relations. Director Todd Smith said that in August of 2008, the Department predicted an increase of 40 cents for 2009/
“A review of the Consumer Price Index (CPI) for July 2008 confirms the Missouri minimum wage rate will increase to $7.05 effective January 1, 2009,” he predicted at the time.
That prediction has become a reality. The Missouri minimum wage, pegged to the cost of living, went up precisely 40 cents on January 1, 2009, increasing from $6.65 to $7.05 an hour. According to the Missouri Department of Labor and Industrial Relations, last year’s increase was a mere 15 cents per hour. The much higher rise in the cost of living has driven the dramatic increase in the Missouri minimum wage rate.
Those businesses that earn less than a half-million dollars annually (more…)
2009 Missouri Minimum Wage
October 24th, 2008 Posted by JolieThe Missouri minimum wage increases by 40 cents, from $6.65 to $7.05 per hour on January 1, 2009. The increase is larger than in previous years due to the high rate of inflation for the previous 12 months.
By contrast, last year’s increase was just 15 cents per hour according the Missouri Department of Labor and Industrial Relations. Many pundits worry about the impact that such a large increase will have on smaller employers across the state. Especially when coupled with rising prices and declining sales, the 2009 Missouri minimum wage increase is a bitter pill for many employers to swallow.
“In August, the Department released preliminary data projecting (more…)
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