New Mexico minimum wage set to increase in 2023
ALBUQUERQUE, N.M. — Starting January 1, New Mexico’s minimum wage will rise as a part of gradual increases promised by legislation passed in 2019.
In 2023, the minimum wage will rise from $11.50 per hour to $12 per hour and from $2.80 per hour for tipped workers to $3 per hour.
This is the last year that a minimum wage increase is promised by the legislation in 2019. Since it went into effect, the hourly minimum wage has increased from $7.50 in 2019 to:
- $9 in 2020
- $10.50 in 2021
- $11.50 in 2022
- $12 in 2023
The 60% minimum wage increase has outpaced the 16.4% cumulative rate of inflation the U.S. has seen since 2019.
See the minimum wage legislation passed in 2019 by clicking here.