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Effective January 1, 2024, California's minimum wage will
increase to $16.00 per hour for all employers, regardless of size.
Under California's Labor Code, by August 1 of each year, the
director of finance will determine if the minimum wage must be
adjusted for inflation and, if so, calculate the increase in
minimum wage by the lesser of 3.5 percent.
As a result, on July 31, 2023, California Department of Finance
Director Joe Stephenshaw officially certified that "minimum wage
shall increase by 3.5 percent to $16.00 per hour" for all
employers (from $15.50 per hour).
The increase in the minimum wage rate also impacts the minimum
salary amounts for full-time exempt employees. Beginning January 1,
2024, the minimum salary for a full-time exempt employee will be
$66,560 per year.
Even though California's minimum wage increased across the
board, California employers should be mindful of the various cities
and counties that have adopted their own, higher minimum wage
rates. Employers with questions about the applicable rates should
contact experienced counsel with questions.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
