Recently, Governor Polis and the Department of Labor and Employment (CDLE) Division of Labor Standards and Statistics (DLSS) announced an increase to Colorado’s minimum wage, which is currently $12.56 per hour for 2022, and will increase to $13.65 per hour in 2023, an 8.68% increase. Annually adjusting the minimum wage for inflation is a voter-approved mandate in the Colorado Constitution. The new minimum wage will take effect on January 1, 2023.
“We are building a strong economy that works for all Coloradans,” said Gov. Polis. “This new minimum wage of $13.65 builds upon our work to save Coloradans money, reduce the cost of everyday items, and put money back into the pockets of hardworking Coloradans.”
Gov. Polis signed a law allowing local governments to set a higher minimum wage than the state standard. The Polis Administration continues to take action to save Coloradans money, including sending tax rebates of $750 to individuals and $1500 to joint filers, cutting the cost of a driver’s license and vehicle registration fees, and reducing the cost of the state parks pass to $29.
The minimum wage adjustments are based on the Consumer Price Index (CPI) in the Denver-Aurora-Lakewood Metropolitan Statistical Area, which is calculated and issued by the federal Bureau of Labor Statistics.
DLSS issues minimum wage adjustments as a part of its annual wage law rulemaking process and pursuant to its mandate under the Colorado Constitution. Providing advance notice helps employers...
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