Ohio Minimum Wage to increase on Jan. 1, 2024

Jan 2, 2024 | Business | 0 comments

Ohio’s minimum wage is scheduled to increase on Jan. 1, 2024, to $10.45 per hour for non-tipped employees and $5.25 per hour for tipped employees. The minimum wage will apply to employees of businesses with annual gross receipts of more than $385,000 per year.

The current 2023 minimum wage is $10.10 per hour for non-tipped employees and $5.05 per hour for tipped employees. The 2023 Ohio minimum wage applies to employees of businesses with annual gross receipts of more than $372,000.

The Constitutional Amendment (II-34a) passed by Ohio voters in November 2006 states Ohio’s minimum wage shall increase on Jan. 1 each year by the rate of inflation. The state minimum wage is tied to the Consumer Price Index (CPI-W) for urban wage earners and clerical workers over the 12-month period prior to September. The CPI-W index increased by 3.7 % over the 12-month period from Sept. 1, 2022, to Aug. 31, 2023.

For employees at smaller companies with annual gross receipts of $385,000 or less per year after Jan. 1, 2024, and for 14- and 15-year-olds, the state’s minimum wage is $7.25 per hour. For these employees, the state wage is tied to the federal minimum wage of $7.25 per hour, which requires an act of Congress and the President’s signature to change.

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