Wednesday, 06 January 2010
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Colorado Lowers the Minimum Wage
Word came out at the end of last week that Colorado will lower the state minimum wage from $7.28 to the federal minimum of $7.25. According to this article from abcnews.go.com, this is the first time any state has lowered the minimum wage since the federal wage was created in 1938. A decrease in 3 cents will amount to about $62 dollars for the year for a worker who does 40 hrs/week without any time off. But while it's a small decrease, a lot of people are understandably not looking forward to it.
But there is a bit more to the story than just the decrease. Apparently Colorado is one of the few states that ties their minimum wage to inflation. So if inflation goes up, so will workers' paychecks. But the opposite is true as well: the consumer price index fell 0.6% last year, so the minimum wage also fell to account for the change. It would have fallen $0.04 to really account for the price index fall, but that would have put it below the federal minimum.
But state officials aren't really expecting to see much change. For one thing, tip-earning workers like waiters already have a set base pay in Colorado less than $7.25, so they won't see a change. For another, officials expect that most employers will simply continue paying their employees their current rate. The article interviewed one business owner who already pays his Dairy Queen workers $8/hr to be competitive, because otherwise he loses employees.
What do you think of the minimum wage decrease? Do you favor the minimum wage being set with inflation, or do you think all states' minimum wages should be fixed, whether against the federal rate or something higher? (a good number of states have minimum wages above the federal minimum rate)
Check out the full article here: http://abcnews.go.com/Business/wireStory?id=9456010
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About the Author
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- From: Cara
- Name: Cara
- About Me: I'm a 24 yr old back in the Midwest for law school. I've survived the first semester as a law student after working as a paralegal for two years. Let's see how the rest of the time goes!
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Comments (13)
that sucks, i live in colorado and i can say that really is going to suck for a lot of people esp. if their employers lower their wage too.
I've always felt that people working to scrape by needed to be knocked down another rung on the economic ladder, to teach 'em a lesson. As it is, low-paid folks wield too much power in this country, and they're money grubbers--everybody knows it. God bless you, Colorado. With the way things are nowadays, this could not have come at a better time.
But technically, if you already have a job there, you're salary isn't going to go down. So it sucks for those trying to break into a fast food or retail career. $3 less a month isn't going to ruin anyone's lives.
Yeah, it's really an attempt by the man to keep low wage earners in their place. HA.
It's an attempt to lower the unemployment rate. I'd take the $3 hit a month if that means more people could enter the work force and spend money to stimulate the economy.
I wonder when New York is going to realize that the entire western half of their state is in shambles, and institute reforms. $7 (instead of $7.25 a hour) is a livable wage in Western NY, too bad no one has a job.
I think minimum wage should change based on what essential things cost, which would be messy to figure out precisely. Just because $1 a certain number of years ago is $10 now, this doesn't mean that today's $10 buys the same thing as the past's $1. (At least from what I understand)
At first it kind of concerned me, but if there is going to be little to no change, anyway...I guess there isn't a huge conflict. I still don't like that, even though they claim they don't expect much of a change at all, that they went ahead and implemented it. It kind of doesn't make sense. They didn't think it would make a difference, so they did it anyway? Hm...
At first it kind of concerned me, but if there is going to be little to no change, anyway...I guess there isn't a huge conflict. I still don't like that, even though they claim they don't expect much of a change at all, that they went ahead and implemented it. It kind of doesn't make sense. They didn't think it would make a difference, so they did it anyway? Hm...
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