State Minimum Wage Rate for Montana
This dataset tracks state minimum wage rate for montana over time.
Latest Value
10.55
Year-over-Year Change
35.26%
Date Range
1/1/1972 - 1/1/2025
Summary
The State Minimum Wage Rate for Montana tracks the minimum hourly wage set by the state government, an important economic indicator for labor markets and worker income.
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 Montana measures the legally mandated minimum hourly wage that employers in the state must pay their workers. This data point is closely watched by economists, policymakers, and businesses to understand trends in labor costs and worker welfare.
Methodology
The data is collected directly from the Montana Department of Labor and Industry.
Historical Context
The state minimum wage rate is a key input for interpreting employment, inflation, and cost-of-living trends in Montana.
Key Facts
- Montana's minimum wage is currently $9.20 per hour.
- The state minimum wage is adjusted annually based on the Consumer Price Index.
- Minimum wage laws aim to ensure a basic standard of living for low-wage workers.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Montana measures the legally mandated minimum hourly wage that employers in the state must pay their workers.
Q: Why is this trend relevant for users or analysts?
A: The state minimum wage rate is a key indicator for understanding labor market dynamics, worker income, and cost-of-living trends in Montana.
Q: How is this data collected or calculated?
A: The data is collected directly from the Montana Department of Labor and Industry.
Q: How is this trend used in economic policy?
A: Policymakers, businesses, and economists closely monitor the state minimum wage to assess the impacts on employment, inflation, and worker welfare.
Q: Are there update delays or limitations?
A: The Montana minimum wage is adjusted annually, so there may be a short delay between the effective date and when the data is published.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for Montana (STTMINWGMT), retrieved from FRED.