Beginning January 1, 2013, each full-time, minimum-wage employee in Missouri will cost employers at least $208 more per year.
The Missouri Department of Labor announced plans to increase the state’s minimum wage from $7.25 per hour to $7.35 per hour beginning next year. The change in Missouri is a break from the federal minimum wage, which will remain at $7.25 per hour, and is the first alteration to the state’s pay floor since 2009.
At 40 hours a week and 52 weeks per year, the pay increase comes to $208 annually.
By law, Missouri’s minimum wage is required to adjust each year for cost of living. Until now, that adjustment has not exceeded the federally mandated wage for several years, meaning the state deferred to the national rate. The St. Louis Post-Dispatch projected in September that inflation would take Missouri’s wage needs beyond the federal level in 2013, a prediction that proved to be correct.
According to the Department of Labor, there are exemptions to the new minimum wage. Retail and service-industry businesses reporting a gross income of less than $500,000 a year will not be required to pay the extra amount.