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This is good news for many post-holiday bank accounts. Minimum Wage in Massachusetts is jumping 75 cents per hour in the new year – effective January 1st.

Minimum wage will now be $12.75 in Mass, up from $12/hour in 2019. The Bay State is one of the 21 states and 26 cities where the minimum wage is expected to rise on Jan. 1., 2020.

The wage hike is a part of an effort to raise to minimum wage to $15/hour by 2023.