New minimum wage in Illinois starting January 2024: How much is the increase?

The federal minimum wage in the United States is $7.25 per hour, although 30 states and the District of Columbia and 30 states have a higher rate. The rest of the 20 states follow the national reference salary.

Some of the highest-wage states tie their increases to the cost of living adjustment to keep up with inflation. This is done in order not to affect the purchasing power of workers. Other states have legislation that establishes automatic increases at the beginning of the year or in subsequent months.

Of the 30 states with higher base salaries, 24 will raise the minimum wage next year. Twenty-one of these, including Illinois, will do so in early 2024. Find out how much the minimum salary will increase in this state.

How much will the minimum wage increase in Illinois in 2024?

The standard minimum wage in Illinois is currently $13 per hour for workers over 18 years of age and $10.50 per hour for workers below 18 years old.

Tipped workers receive 60% of the state minimum wage, which is equivalent to $7.80 per hour for workers 18 years of age and older, and $6.30 per hour for workers under 18 years of age.

Thanks to legislation passed in 2019, starting January 1, 2024, the standard base wage in Illinois will increase to $14 per hour for workers over 18 years of age and $12 for those under age 18. The minimum wage for workers who receive tips will rise from $7.80 to $8.40 per hour.

These rates will increase in subsequent years: in January 2025, the standard minimum wage will rise to $15 per hour. The wage for young people under 18 who work less than 650 hours per hour will be $13 and $9 for tipped employees.

READ ALSO: Latest US unemployment rate shows slight dip

READ ALSO: Workers who will earn $20 an hour in California in 2024

The minimum wage in Chicago is higher than the state wage

The base salary in the city of Chicago is higher than in the rest of the state. In July of this year, it was set at $15.40 per hour for companies with 21 or more employees, $14.50 for companies with up to 20 employees and $12 for workers under 18 years of age.

Meanwhile, the minimum wage for tipped workers is $9.24 per hour for businesses with 21 or more workers, $8.70 for businesses with up to 20 employees, and $7.20 for tipped employees under 18 years of age.

States increasing their minimum wage on January 1, 2024

In addition to Illinois, 20 other states are expected to raise their respective minimum wages starting next year. Here's the list:

In Florida, the rate will increase starting September 30, 2024. In the case of Nevada and Oregon, the increase is scheduled for July next year, but the amount has not yet been confirmed.