It’s Official: Minimum Wage to Increase to $15.69 Effective January 1, 2024

Back in June, when the state minimum wage increased to $15 an hour, I warned that because the minimum wage was now tied to the employment cost index for wages and salaries for all civilian workers — as defined by the United States Department of Labor — it was likely to go up effective January 1, 2024.

I predicted an increase of 70 cents though alas, I was off by a penny.

Today, Governor Lamont made it official. The ECI came in at 4.6 percent rate for the twelve-month period ending on June 30, 2023.

As a result, the state minimum wage will increase 69 cents to $15.69 per hour.

This will not be the end of the increases, though.

Moving forward, workers and employers can anticipate announcements by October 15th of each year declaring the change that will be tied to the ECI. So the minimum wage for 2024 will, in all likelihood, not be the minimum wage for 2024.

Since July 1, 2022, that will be an increase of $1.69 total by January 1, 2024.