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As of January 1, Montana’s minimum wage is scheduled to go up again on New Years’ Day.

The Economic Policy Institute says the increase will directly benefit 15,000 workers in the state.

The state’s minimum wage will increase 30 cents to $7.65 an hour. The institute says that means an extra $624 per year in wages for a full-time minimum wage worker.

The increase comes as a result of an initiative Montana voters adopted in 2006 that established annual cost of living increases.