Denver’s minimum wage will increase, but you’ll have to wait until January 2023 to see it in your paycheck – Denver, Colorado

Date:

Denver, Colorado 2022-08-10 20:52:06 –

Rise to $17.29 due to rising consumer price index

Denver’s local minimum wage increased due to the rise in the consumer price index.

Starting January 1, 2023, the local minimum wage will increase to $17.29, according to the Denver Treasury Department. Up from the current $15.87.

Mayor Michael Hancock said in a statement Tuesday, “We know this puts an additional strain on our local businesses.” It’s a tool.”

A city ordinance passed unanimously by the city council in 2019 ties the city’s minimum wage to the CPI. Officials say it’s part of an effort to ensure wages keep up with local cost of living.And Hancock said the new wages would help those struggling with inflation.

Denver-Aurora-Lakewood’s CPI for the first half of 2022 was 8.94%, corresponding to an increase of $1.42, according to Denver’s Treasury Department. State law requires minimum wage changes to take effect from he Jan. 1, and the city used mid-CPI to meet the New Year’s deadline.

“CPI increases are used by most state and local minimum wages across the country,” said Rep. Robin Kniech. “They are designed to do the same thing that this increase will do for Denver workers: help keep up with the cost of living while keeping up with rising prices.”

So what does this mean for tipped workers?

As part of the increase, the minimum wage for tipped restaurant workers will be $14.27 per hour if they earn at least $3.02 in actual tips. Minimum wage deductions are available to employers if the employee can prove they did not receive the amount.

The ordinance went into effect on January 1, 2020 and increased the minimum wage from $11.10 to $15.87 in 2022.

Denver’s minimum wage will increase, but you’ll have to wait until January 2023 to see it in your paycheck Source link Denver’s minimum wage will increase, but you’ll have to wait until January 2023 to see it in your paycheck

The post Denver’s minimum wage will increase, but you’ll have to wait until January 2023 to see it in your paycheck – Denver, Colorado appeared first on Eminetra.

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