Workers in Connecticut earning minimum wage have something to look forward to in 2014. Governor Dannel Malloy reminded residents today the minimum wage will increase from $8.25 to $8.70 starting Wednesday, January 1, 2014, followed by a second increase on January 1, 2015 to $9.00.
It’s part of a new law Governor Malloy signed and approved in June. Public Act No. 13-117
“This gradual increase over two years is a balanced approach to helping hard working men and women without adversely impacting the business community,” Governor Malloy said. “Studies have shown that increasing the minimum wage is one of the best ways to get children out of poverty. This modest increase is money that will be put back into our economy and help residents to make ends meet.”
Currently 70,000 to 90,000 workers out of a total 1.7 million in Connecticut’s workforce, earn minimum wage. Under the current rate of $8.25 per hour an employee working 40 hours a week earns $17,160 per year.
Although many businesses in Fairfield County already pay above minimum wage, state officials say the new law is essential in improving Connecticut's economy.
“To truly achieve renewed prosperity as a state, we need all levels of workers to participate in the economic recovery,” Lt. Governor Nancy Wyman said. “These increases represent small but significant steps forward for tens of thousands of Connecticut workers trying to provide for themselves and their families.”