The minimum wage in Colorado is set to increase to $12.56 per hour on January 1, 2025. This is a significant increase from the current minimum wage of $12.00 per hour. The increase is part of a gradual plan to raise the minimum wage to $15.00 per hour by 2026.
The increase in the minimum wage is expected to benefit over 600,000 workers in Colorado. It is also expected to boost the state’s economy by an estimated $720 million per year. The increase in the minimum wage has been met with some opposition from businesses, who argue that it will lead to higher costs and job losses. However, supporters of the increase argue that it is necessary to ensure that all workers in Colorado can earn a living wage.
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