In the latest development with the federal contractor minimum wage, the Department of Labor finalized a five-cent increase over the previous year’s rate.
As previously reported, President Obama signed Executive Order 13658 establishing a minimum wage for federal contractors in February 2014. Effective January 1, 2015, the minimum hourly wage for workers on covered contractors was $10.10 an hour. As part of the Executive Order, however, the Secretary of Labor was authorized to make annual increases based on inflation.
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