State Minimum Wage Rate for Missouri
STTMINWGMO • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13.75
Year-over-Year Change
87.07%
Date Range
1/1/1991 - 1/1/2025
Summary
The State Minimum Wage Rate for Missouri tracks the hourly minimum wage set by the state government. This metric is important for evaluating labor market dynamics and the policy environment for low-wage workers.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Minimum Wage Rate for Missouri represents the legally mandated minimum hourly pay that employers in the state must provide to their workers. This data series is used by economists, policymakers, and workforce analysts to assess changes in the minimum wage and its potential impacts.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of state governments.
Historical Context
The Missouri minimum wage is a key factor for businesses, workers, and policymakers considering labor market conditions and cost-of-living issues.
Key Facts
- Missouri's current minimum wage is $12.00 per hour.
- The state minimum wage was last increased in 2023.
- Missouri allows a lower training wage for new hires.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Missouri tracks the hourly minimum wage set by the state government for employers.
Q: Why is this trend relevant for users or analysts?
A: The Missouri minimum wage is an important indicator for evaluating labor market dynamics, cost-of-living issues, and the policy environment for low-wage workers.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of state governments.
Q: How is this trend used in economic policy?
A: The Missouri minimum wage is a key factor for businesses, workers, and policymakers considering labor market conditions and cost-of-living issues.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Bureau of Labor Statistics, with some potential delays in reflecting changes to the state minimum wage.
Related Trends
Citation
U.S. Federal Reserve, State Minimum Wage Rate for Missouri (STTMINWGMO), retrieved from FRED.