Colorado: State Minimum Wage Hike
According to the Rocky Mountain News:
The Denver-area inflation rate for the first half of the year was 3.7 percent, propelled by rising energy costs.
It's not just another economic statistic: Thanks to a 2006 ballot issue, Colorado uses the measure to set the state's minimum wage.
Now $7.02, the minimum wage will increase Jan. 1 to $7.28, the Rocky Mountain News calculates, based on the Colorado Department of Labor's rules.
Tipped employees, like restaurant wait staff, will see their minimum rise from $4 to $4.26.
Bill Thoennes, a spokesman for the Colorado Department of Labor, said the agency must consult with federal economists and conduct a rules hearing before formally announcing the change, but the math is correct.
The local inflation rate is the Denver-Boulder-Greeley Consumer Price Index, which measures price increases from the first half of 2007 to the first half of 2008.
The federal Bureau of Labor Statistics, which calculates the rate, said energy prices, which include prices for vehicles and heating and cooling the home, rose 19 percent. In the prior year, energy costs actually declined 0.6 percent...click to continue.
