Hourly Employees Take Note – Maine Minimum Wage Increasing
For the last few years, the entire country has been dealing with crazy rates of inflation. The price of everything keeps going up and up and up! Nothing remains unaffected, either. Food, electricity, gas, clothing electronics, and more. And, on top of everything else, because we got that major influx of people during the pandemic, the cost of housing is way up, too.
Unfortunately, for most people, their rate of pay has not kept pace with the level of inflation. They are making about the same as they were just a few years ago, but paying way more for everything.
There is some good news, though.
The lowest paid hourly employees in the State of Maine will be getting a little help.
According to WMTW, on January 1st, 2024 the Maine minimum wage will just from $13.80 to $14.15 per hour.
The article explains that, thanks to a 2016 amendment, the law requires the state make annual adjustments to the minimum wage. These increases are based on the cost-of-living index (CPI-W) for the Northeast Region. According to the article, there was a 2.4 percent increase in the CPI-W between August of 2022 and August of 2023..
If you are tip earner, like a server or bartender, your new minimum hourly pay will be $7.08. However, you will still be entitled to the state minimum wage of $14.15 per hour. So, if you work a string of particularly slow nights, your employer is still required to make sure you walk away with at least minimum wage during the hours you work.
And, if you are a salaried worker, there is a new threshold for exemption. You need to make at least $42,450.20 per year. If you don't, you will be eligible for overtime.