The minimal wage in Colorado is about to extend to $12.56 per hour on January 1, 2025. It is a vital improve from the present minimal wage of $12.00 per hour. The rise is a part of a gradual plan to lift the minimal wage to $15.00 per hour by 2026.
The rise within the minimal wage is anticipated to profit over 600,000 staff in Colorado. Additionally it is anticipated to spice up the state’s economic system by an estimated $720 million per 12 months. The rise within the minimal wage has been met with some opposition from companies, who argue that it’s going to result in increased prices and job losses. Nevertheless, supporters of the rise argue that it’s obligatory to make sure that all staff in Colorado can earn a dwelling wage.
