A new study examining where minimum wage goes the furthest to cover the local cost of living has ranked Denver as the best US city for minimum wage workers.
The recent study from SmartAsset examined the statutory minimum wages in the 79 larges US cities, and adjusted those wages to account for the local cost of living as compared to the national average.
Denver, which had the second-highest statutory minimum of $17.29 per hour, topped the list despite the city's relatively high cost of living, with an adjusted hourly minimum of $15.07.
At the other end of the list, sky-high living expenses in Honolulu wiped out most of the city's statutory minimum wage of $12 per hour, which was worth just $6.47 when adjusting for cost of living.
A recent study from SmartAsset found that Denver's minimum wage goes the farthest to cover living expenses, despite the Mile High City's relatively high cost of living
That tied Honolulu with Plano, Texas for last on the list. Though the Dallas suburb’s cost of living is 12.1 percent higher than the national average, it has the lowest possible minimum wage: the federal minimum of $7.25.
The study comes amid ongoing debate over the federal minimum wage, which has remained unchanged at $7.25 since 2009, despite soaring inflation in recent years.
There are 16 states that do not set their own wage requirements above the federal minimum. Twenty-three states had new state minimums come into effect on January 1.
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