Colorado Minimum Wage Increases to $7.26
January 8th, 2009 Posted by CaraOn January 1, 2009 the Colorado minimum wage increased to $7.28 per hour. The hike from $7.02 hourly represents a 26 cents per hour increase. The new minimum wage tracks the region’s inflation rate.
According to the Colorado Department of Labor and Employment , the minimum wage must be annually adjusted for inflation. In the Denver-Boulder-Greeley area of Colorado, the Consumer Price Index (or CPI) showed an increase of 3.7%. As a result, the minimum wage showed a corresponding increase.
Tracking the inflation rate is part of Colorado law. Under Article XVIII, Section 15 of the Colorado Constitution, employers are required to adjust the pay of their minimum-wage employees every year to match the inflation rate. The law was last amended in 2006.
Donald J. Mares, Colorado’s Executive Director of Labor as well as the top officer of the Colorado Department of Labor and Employment, published the new minimum wage figures recently.
Because the prices of food and other commodities have risen dramatically, (more…)
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