Is Colorado Minimum Wage Going Up To $15? What You Need To Know

In 2023, Colorado is witnessing an increase in its minimum wage, which is crucial information for anyone interested in understanding the state’s economic landscape. The minimum wage rate in Colorado for 2023 has been raised to $13.65 per hour, marking a notable increase of $1.09 per hour compared to the previous year. This shift in minimum wage rates is an important development that will significantly impact the livelihoods of workers and the overall economy in Colorado. It came into effect on January 18, 2023, ensuring that employees in the state earn at least $13.65 per hour, reflecting a positive change for those reliant on minimum wage income.

The minimum wage in Denver for the year 2023 is set to rise to $18.29 per hour, marking an increase from the previous rate of $17.29. This announcement was made by city officials on the morning of August 4, 2023. The change is scheduled to take effect on January 1, 2023. This adjustment in the minimum wage is aimed at addressing economic factors and ensuring fair compensation for workers in Denver.