200K Federal Contractors Are About to Get a Pay Raise
The Labor Department on Tuesday issued final rules for raising the minimum wage for employees of federal contractors, setting the stage for all such workers on new contracts to earn at least $10.10 per hour starting Jan. 1.
The regulation follows an executive order issued by President Obama in February and will benefit around 200,000 employees, according to Labor. The minimum wage will apply to most construction, service, concession and federal property contracts signed on or after Jan. 1, 2015. Labor said it received comments from more than 6,500 labor organizations, contractors, associations, advocates, agencies, small businesses, workers and other stakeholders advising the agency on its final rule.