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AK: Minimum Wage Increase 2023
January 1 All day
Beginning January 1, 2023, Alaska’s minimum wage rate will be $10.85.
Pursuant to Alaska Statute 23.10.065 the Alaska minimum wage is to be adjusted annually for inflation using the Consumer Price Index for all urban consumers for the Anchorage metropolitan area (Anchorage CPI-U) for the proceeding January-December calendar year.
The “Urban Alaska CPI-U,” the current name for what was formerly titled the “Anchorage CPIU,” rose 4.9 percent in 2021 (climbing from 226.153 in 2020 to 232.679 in 2021). Applying that percentage increase to the current minimum wage of $ 10.34 produces a new minimum wage, effective January 1, 2023, of $10.85.”Alaska Department of Labor and Workforce Development – 2023 Wage Determination