Colorado minimum wage rate is $14.42 per hour in 2024. The minimum wage for tipped employees is also set to rise from the current $10.63 to $11.40 at the start of 2024.
In addition to layoffs, fast food chains are utilizing greater automation and price increases to offset higher labor costs. This upcoming raise is in line with the cost of living adjustments.
One Potential Solution Under Consideration Is Lowering The Minimum Wage For Gig Workers From $26 Per Hour To Seattle's Standard Minimum Wage Of $19.97 While.
This is an increase from the 2022 state minimum wage of $12.56 per hour and a tipped employee minimum wage of $9.54.
The Colorado Minimum Wage Is Set To Increase From $13.65 To $14.42 On January 1, 2024, Which Is $7.17 Higher Than The Federal Minimum Wage.
Looking ahead, colorado’s statewide minimum wage will increase on january 1, 2024, to $14.42 per hour.
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The 2024 Colorado State Minimum Wage Will Be $13.65 Per Hour, With A Tipped Employee Minimum Wage Of $10.63.
The colorado minimum wage is the lowermost hourly rate that any employee in colorado can expect by law.
The Rate Set Centrally Is Known As The Federal Minimum Wage And Has Been At The Rate Of $7.25 Per Hour Since 2009.
Additionally, overtime work must be paid at 1 ½ times the minimum, which equates to $21.63 per hour in 2024.