Colorado Minimum Wage to Rise in January

Date: December 16, 2015

Small businesses also worry 'Fight For 15' will continue for the upcoming legislative session.

Colorado small businesses are preparing for a 1 percent hike in the minimum wage in January. The state rate will increase from  $8.23 to $8.31 an hour. For tipped employees, the minimum wage goes from $5.21 to $5.29 per hour come January.

The Colorado Constitution mandates an hourly wage increase every year based on inflation. The 2016 rate reflects the new consumer price index (CPI).

Though the increase is small, business owners across the state are keeping a wary eye on efforts to pressure lawmakers into raising the minimum wage higher.

Earlier this year, protesters in Denver marched in support of a $15-an-hour minimum wage. The protesters of the “Fight for 15” movement said they hope to drum up support in advance of the 2016 presidential election.

And during the last state legislative session, a bill that would have enabled voters to raise the minimum wage to $12.50 by 2020 was proposed.

Business owners say higher wage costs affect their ability to hire.  

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