With the cost of nearly everything on the rise, it's getting harder for everyday Montanans to survive. Here's some great news for workers in Montana. The state's minimum wage is set to increase on January 1, 2024. Here's what you need to know about it.

Minimum Wage Increase
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At the beginning of 2023, the minimum wage in Montana increased by 75 cents, which was the largest increase in the past decade. Many businesses in Montana are already paying employees above minimum wage in order to keep workers. The fact is, workers in Montana are unable to survive if they're just relying on minimum wage.

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The minimum wage in Montana is currently $9.95 per hour, but it will increase to $10.30 at the beginning of next year according to the Montana Department of Labor & Industry. That's a 35-cent increase for minimum wage earners in the state.

How Does the State of Montana Determine Minimum Wage?

Here's an explanation from the Montana Department of Labor & Industry.

The minimum wage is subject to a cost-of-living adjustment based on the Consumer Price Index no later than September 30th of each year. Montana's minimum wage is to be the greater of the federal or current Montana minimum wage.

Financial Stress
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The minimum wage in Montana has been steadily increasing since voters approved Initiative 151 in 2006. At first, the initiative raised the minimum wage in Montana by $1 from $5.15/hr to $6.15/hr and put in place an annual adjustment based on inflation.

Montana's first minimum wage of $1.60/hr was established in 1968. Thankfully, wages have increased in the state since then. Here's a look at minimum wage history in Montana.

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