As if there hasn’t already been enough bad news this year, there’s this little bit of additional local gloom: Colorado is about to become the first state to lower its minimum wage since the minimum wage became law in 1938.
The three cent drop is coming because the state’s minimum wage is tied to inflation and can go up or down accordingly. If it weren’t for a federal minimum of $7.25, the drop would have been four cents.
Colorado is one of ten states that ties its minimum wage to the rate of inflation, but the other nine were smart enough to mandate only increases.
Sigh …
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