Expected Wage Increase 2024. Once signed into law, michigan’s minimum wage is expected to increase to $12 per hour initially, eventually increasing to over $15 per hour by 2029. Trading economics provides data for 20 million economic indicators from 196 countries.

Employers are planning an overall average salary increase of 4.0% for 2024, in contrast to many economists predicting lower u.s. Vda order april 2024 :