Chicago minimum wage rising to $15.40 an hour on Friday
CHICAGO (CBS) -- The minimum wage in Chicago is going up on Friday, when it will be more than $15 an hour for the first time.
The city's minimum wage will be $15.40 an hour for businesses with 21 or more employees, and $14.50 an hour for employers with 4-20 employees.
The minimum wage for tipped workers will be $9.24 an hour for businesses with 21 or more employees, and $8.70 an hour for businesses with 4-20 employees. If a tipped worker's wages plus tips don't equal at least the full minimum wage, their employer must make up the difference.
Youth workers will see their minimum wage rise to $12 per hour, unless they're tipped workers, who will get a minimum wage of $7.20 per hour.
The city's minimum wage goes up every year on July 1, and the increases are tied to the consumer price index, but capped at 2.5%.
For more information on the city's minimum wage requirements, visit the Chicago Department of Business Affairs and Consumer Protection website.
