The state minimum wage will increase by 15-cents on Jan. 1, 2014. The Missouri Department of Labor announced Friday that next year’s rate will be $7.50, which is up from the previous year’s established rate of $7.35.
All businesses, except retail and service industries whose annual gross sales are less than $500,000, will be required to pay their employees at least $7.50. Employers are required to pay tipped employees at least 50 percent of the minimum wage.
The minimum wage rate is calculated based on the cost of living from the previous year’s Consumer Price Index.