The minimum wage in Colorado will increase from $7.25 an hour to $7.36 on Saturday. In Colorado, the minimum wage is tied to inflation and adjusts every January 1.
Someone working 40 hours a week for 52 weeks would see their annual income increase from $15,080 to $15,309.
This news comes on the heels of a report released this week by the Denver-based Bell Policy Center study which says that the working poor in Colorado keep falling further behind.
The report, “Opportunity Lost, When Hard Work Just Isn’t Enough for Colorado Families,” says the number of working poor in Colorado has increased dramatically in the last six years.
The report’s authors recommend a greater emphasis in Colorado on basic adult education and job training and say something needs to be done to make low-wage jobs more secure.
According to the report, 8.3 percent of working families in Colorado are below the poverty line, which is $22,050 for a family of four. The reports says that about one fourth of Colorado families do not earn enough money to meet their basic needs, which requires income of roughly double the poverty level.
Read the entire article at the Colorado Independent: Minimum wage will go up Saturday as Colorado’s working poor struggle to get by
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