Minimum wage goes up January 1st

Those who are making minimum wage in Missouri will have more buying power beginning on January 1st. On that date, the minimum wage in Missouri will increase from $8.60 per hour to $9.45 per hour. That translates to an extra 34-dollars per week for someone working a 40-hour week, minimum wage job. The minimum wage increase is part of Proposition B, that was approved by a large majority of voters in November 2016. Brian Thompson, with Lebanon Regional Economic Development, says that bill will raise the minimum wage to 12-dollars per hour by 2023. There has been a move by legislators to overturn Proposition B, and Thompson says that move could continue in the upcoming legislative session. Proposition B also provides for a cost-of-living adjustment each year, beginning on January 1st, 2024. For those making minimum wage, and working 40-hours per week, that translates to an extra 1,768 dollars per year.