Colorado’s minimum wage becomes 1st in US to drop

Posted by Kendall Harmon

Colorado's minimum wage will drop slightly in the new year - the first decrease in any state's minimum wage since the federal minimum was adopted in 1938.

Colorado's wage is falling 3 cents an hour, from $7.28 to the federal level of $7.25. That's because Colorado is one of 10 states that tie the state minimum wage to inflation. The goal is to protect low-wage workers from having unchanged paychecks as the cost of living goes up.

But Colorado's provision also allows wage declines, and the state's consumer price index fell 0.6 percent last year, so the minimum wage is going down.

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Filed under: * Economics, PoliticsEconomyLabor/Labor Unions/Labor MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--Politics in GeneralState Government

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Posted December 31, 2009 at 4:44 pm [Printer Friendly] [Print w/ comments]
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