Michael Hancock and The City of Denver just announced that the Minimum Wage for any worker in Denver will be going up to $17.29/Hour starting January 1st. Currently, the Minimum wage in Denver is 15.87, so this could be a Significant Jump in income for some people. To compare a 40 Hour week Salary, that’s about 34.5K/Year.
“At a time when inflation and rising costs are impacting working families everywhere, this increase in our minimum wage, which is based on the Consumer Price Index, will help those who need it most,” Mayor Hancock said. “We know this will put additional burdens on our local businesses, but this is an important tool to support vulnerable workers across the city.”
Tipped Employees may make a bit less, at 14.27 an Hour, assuming they can make at least $3 in tips an hour. These wage increases are based on based on the Consumer Price Index (CPI) to ensure that wages keep up with Denver’s actual cost of living. The latest numbers showed CPI Change of about 8.94%. The $17.29/Hour is for Denver Workers only. The Rest of the State has a $12.56/Hour Minimum.
Read more about the Minimum Wage increase, and how they figure these things out.
