Colorado's Minimum Wage Ratchet

Apparently the minimum wage in Colorado will be $7.28 on January 1, up from $7.02.  This is at a time when employers will be coping with lower spending by consumers and higher costs driven by fuel prices.

Congratulations to those working near the minimum wage who still have jobs. 

I wouldn't be opening a marginal business in this climate.  If more dumb labor sponsored initiatives are passed by the voters, expect the economy in Colorado to tank as businesses move out of state.  At that point, the minimum wage won't matter.

Comments

[Ben]

Welcome, layoffs and at least a small increase in the unemployment rate come 2009. And that's assuming voters spare us from being inflicted with the "Just Cause" and health insurance mandate initiatives.