The City and County of Denver recently announced a welcome change for its workforce, with the local Denver minimum wage set to increase by $1 per hour starting January 1, 2024.
Denver Minimum Wage to Rise by $1 per Hour, Boosting Workers’ Earnings
Workers will see their Denver minimum wage per hour rise to $18.29, up from the current rate of $17.29. The adjustment comes as part of the city’s ongoing efforts to ensure that wages keep pace with the rising cost of living. The decision to raise the Denver minimum wage was made following a thorough assessment of the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the Denver-Aurora-Lakewood area. The CPI-W for 2024 was determined to be 5.8%, a lower figure compared to the 8.94% recorded in 2023. While the adjustment of the Denver minimum wage may be smaller than in previous years due to slowing inflation, city officials emphasize that it remains a significant step towards supporting workers and maintaining a competitive job market.
Denver Minimum Wage Increase Supports Both Workers and Businesses
Denver Mayor Mike Johnston expressed his enthusiasm for the Denver minimum wage increase, stating, “Denver thrives when our residents thrive, and this Denver minimum wage adjustment serves as an important tool to help both our workers and businesses succeed in a competitive job market.” The new rate is expected to put extra money into the pockets of Denver workers, ensuring a fair wage for all and bolstering the city’s attractiveness as a job market. This scheduled increase is a result of the local minimum wage ordinance unanimously approved by Denver City Council in November 2019. The ordinance has been instrumental in stabilizing Denver minimum wage workers and their families, providing them with greater financial security amid the challenges posed by rising living costs and inflation. With Denver’s local minimum wage enforced by the Denver Labor Division of the Office of Denver Auditor Timothy O’Brien, the city continues to prioritize education-first initiatives in wage theft enforcement, ensuring that workers receive the money they are legally entitled to.