HR Knowledge Blog HR Alert: 2024 Minimum Wage and Salary Threshold Compliance Insights

2024 Minimum Wage and Salary Threshold Compliance Insights Many state and local minimum wage increases take effect on January 1st of each year. We have summarized those updates below. If an employee is subject to more than one minimum wage requirement (such as federal, state, and local), employers must pay the rate that is most generous to the employee. Please note that some jurisdictions schedule their changes at another point during the year. Additionally, in states, the minimum salary required to be exempt from overtime ties to minimum wage, therefore these thresholds will also increase. Arizona Effective January, 1, 2024, the minimum wage increases to $14.35 per hour. Flagstaff, AZ minimum wage increases to $17.40. California Effective January, 1, 2024, the minimum wage increases to $16.00 per hour. Several localities in CA have increased their minimum wages for 2024. The minimum salary threshold for exempt employees increases to $66,560 per year. Colorado Effective January 1, 2024, the minimum wage increases to $14.42 per hour. Denver, CO increases to $18.29 and Edgewater, CO increases to $15.02. Connecticut Effective January 1, 2024, the minimum wage increases...