Minimum Wage in Illinois is set to increase again in 2024
Once again a new year in Illinois will bring a new increase to the minimum wage in the Land of Lincoln. What is the minimum wage going up to in 2024, and will it impact small businesses in your community?
According to ourquadcities.com, the minimum wage will once again go up in Illinois in 2024, the increase will be to $14. This will go into effect on January, 1st 2024, and in the article, they say...
"Illinois’ new minimum wage will be $14 per hour for those over 18 years old. The Illinois Department of Labor says the state’s current minimum wage law took effect in 2023 and calls for increases each year through 2025. The current law states that some employees could potentially have a wage less than $14 per hour. Minimum hourly rates are $8.40 for those who work in an industry with tips or $12 for anyone under 18 who also works less than 650 hours per year."
The article mentions how if you work overtime in Illinois, you get paid time and a half for working over 40 hours a week. For more information on the minimum wage increase in 2024, click here!
Will it impact local businesses?
As always when the minimum wage is increased we here in small communities think about the impact it will have on our small and local businesses. Business owners may be frustrated by this increase, but at least the state of Illinois has given them fair warning about these gradual increases. But, honest question...Which places aren't paying $15 an hour or more at this point? I feel like every sign you drive by on Broadway Street here in Quincy is advertising at least $15 an hour for workers.
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