TAKE THE POLL: CLICK HERE
Starting Jan. 1, 2025, Minnesota will increase its minimum wage to $11.13 an hour, regardless of whether someone works for a large or small business.
The current wages in Minnesota are $10.85 minimum for large businesses and $8.85 for smaller businesses. While there will still be a lower 90-day training wage for employees aged under 20, that will also rise from $8.85 to $9.08, according to KNOX Radio. (TAKE A POLL: Is the Government Doing Enough to Address Unemployment?)
What Does This Mean For Minnesota?
“The global monetary policy cycle is entering a new phase, in which rates will be falling slowly but to levels that will still be restricting demand. We expect the ECB to cut rates twice more this year, and the Fed to start cutting rates in September with another cut in December. This is later than we had expected, reflecting stalled disinflation momentum in the first four months of the year. But US wage growth is gradually cooling,” according to a financial report from Fitch Ratings earlier in 2024.
With income inequality continue to grow, some states think that increasing the minimum wage will make things better. In reality, this can put pressure on small businesses who cannot afford to compete with large corporations. As a result, the small business fails, leading to even greater inequality. (TAKE A POLL: Do You Feel Confident About the Current State of the Economy?)
How Do You Feel?
Take action by using your voice today. Did you know that lawmakers, business leaders, and even public servants use polling data to inform their policies and practices?
Don’t let your voice be lost in the ether of the Internet! Take control and take back your power today by signing up to take a poll — take all of them if you like!