Puerto Rico Increases Hourly Minimum Wage to $10.50 Beginning July 1, 2024
Puerto Rico’s minimum wage will increase to $10.50 per hour from $9.50 per hour effective July 1, 2024. This increase was finally approved by the Minimum Wage Review Commission on June 13, 2024 . With limited exceptions, the increase will apply to all non-exempt employees covered by the Fair Labor Standards Act. This increase was adopted by Act No. 47-2021 as an automatic increase unless the Commission provided otherwise. The Commission’s approval was supported by an economic report issued by Abexus Analytics on June 7, 2024. The report included an analysis based on the data collected in the quarterly returns of the Department of Labor of Puerto Rico, the Quarterly Census of Employment and Wages (ES-202), the aggregated data from the corporate income returns from the Department of the Treasury of Puerto Rico, and the inflation rate, among other factors. An evaluation of the report moved the Minimum Wage Review Commission to approve, with a majority of votes, the minimum wage increase ...