What Is Your Company’s Minimum Wage?
Posted by: Emma Berdanier on June 21st, 2018
State & Locale Minimum Wages on the Rise
News articles and reports of minimum wage increases are a frequent occurrence today. Some of the most notable are Seattle, with a current minimum wage of $15.00 per hour, and San Francisco’s will increase to the same effective July 1, 2018. Here in Colorado, with the 2016 passage of The Colorado $12 Minimum Wage Amendment (also known as Amendment 70) Colorado’s minimum wage, currently $10.20 per hour, was increased to $9.30 per hour as of January 1, 2017, and is increased annually by $0.90 until it reaches $12.00 per hour in January 2020.
Companies Setting Their Own Minimum Wages?
In order to attract better quality candidates in today’s extremely tight labor market, we’re starting to hear more and more of businesses establishing their own minimum wage higher than what the law requires (often referred to as a starting wage).
- Costco CEO Richard Galanti announced in a May 31 earnings call that the company would use tax cut savings to boost its minimum wage to $14 per hour
- Target recently announced a $12 minimum after unveiling an $11 minimum last year
- JPMorgan Chase credited a tax windfall for its January 2018 hike to $15
J. Kent Staffing’s Minimum Wage
J. Kent hires close to 600 employees each year for temporary assignments with hundreds of Denver and Colorado companies. What is our Minimum Wage? For office/clerical positions, it is $12 per hour. For event staffing, it is $11 per hour, with a goal of being at $12 per hour by 2019. It is simply just too hard to attract the quality of talent our clients require – even for entry-level and unskilled positions – by paying less than this.
What is your company’s minimum wage?
Colorado’s Minimum Wage Path:
- January 1, 2017 | $9.30
- January 1, 2018 | $10.20
- January 1, 2019 | $11.10
- January 1, 2020 | $12.00
Sources Used: ASA Staffing Today, 6/13/2018, www.colorado.gov/pacific/cdle/minimumwage