Are we really going to see an increase ?
How much ?
- President Obama, in the first of potentially many executive actions tied to his State of the Union address, will unilaterally increase the minimum wage for workers under new federal contracts to $10.10 an hour, from $7.25, in an effort to build momentum for a minimum wage hike for all Americans.
- plan to increase the overall federal wage to $10.10 over three years, then indexing it to inflation, while also raising the minimum wage for tipped workers, the official said.
WIll it work for all of us ?
The Good, the Bad, The Ugly
- Critics of the minimum wage push claim that raising the rate could have an adverse effect, discouraging businesses from hiring more workers at a time when the government is trying to spur job growth.
- The new executive order affects only future contracts, not existing ones, and would only apply to contract renewals if other terms of the agreement changed. As a result, the order would benefit far fewer workers than the number foreseen by advocates of federal contract employees.
We want and want it now
- Minimum wage is a perennial issue that has taken on a higher profile amid the slowly recovering economy and growing public debate about income inequality. A Quinnipiac University poll this month found 71 percent of Americans in favor of raising the minimum wage — including more than half of Republicans polled.