Colorado Will Lower Minimum Wage

State figure, tied to inflation, will drop 4 cents to $7.24

By Nick McMaster,  Newser Staff

Posted Oct 13, 2009 2:52 PM CDT

(Newser) – Colorado is set to become the first state to lower its minimum wage next year. The state’s minimum wage is tied to local inflation—specifically, the Denver-Boulder-Greeley Consumer Price Index, which has fallen 0.6%. The state’s minimum of $7.28 an hour will fall to $7.24 on Jan 1. Most employers, however, will be required to pay the federal minimum wage of $7.25, notes the Denver Post.

The wage cut to the federal level would translate into $62.40 of lost income over the course of a year. "For the people really working at the minimum wage, even though it is a small amount of money, it means a lot to them," a public policy researcher tells the Post.

Colorado will become the first state to lower its minimum wage next year.
Colorado will become the first state to lower its minimum wage next year.   (Shutterstock)
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