Missouri’s minimum wage to increase on New Year’s Day

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(KTVI) – Starting on New Year’s Day, January 1, 2014, Missourians making minimum wage will get an increase in pay. The new minimum wage will be $7.50 per hour, for over 100,000 Missourians.

The independent Economic Policy Institute says its analysis of census data, that the economic impact for the state will be $11.8 million.

Just 12 states, including Missouri will see an increase of those making the minimum wage in 2014.

Missouri’s minimum wage increase is due to a voter initiative passed in 2006 that provided for annual adjustments to keep up with the cost of living index.

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