St. Paul, MN (KROC-AM News)- Workers being paid minimum wage in Minnesota will get a pay increase to start the new year.

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The Minnesota Department of Labor and Industry announced the wage adjustment for inflation in August. The minimum wage increase is broken up into two categories that are dependent on the amount annual revenue a business brings in. 

Starting January 1 of 2024, businesses that have an annual gross revenue of at least $500,000 must increase their minimum wage employees hourly pay rate by $0.26 an hour, brining the wage to $10.85 per hour.

Minimum wage employees working for businesses with annual revenues under $500,000 will see their hourly wage rise to $8.85 per hour, an increase of $0.22 per hour. 

The training wage and youth wage will also increase by $0.22 per hour, raising it to $8.85 per hour. That increase applies to all businesses regardless of annual revenue. 

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Minnesota companies are also required by law to display signage to make employees aware of the wage change. Posters are available at no cost to the business and can be found by clicking here.

Employers must also notify their workers of changes to their wage in writing before the law takes effect. The adjusted minimum-wage rates will not apply to businesses that operate in the cities of Minneapolis and St. Paul, which have minimum-wage rates higher than rate mandated by state law.

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