Obama to raise minimum wage for fed contractors

  • An executive action signed by President Obama raises the minimum wage of contract workers from $7.25 to $10.10 an hour. 

    The move may affect over 2M employees but Obama mentioned that his goal is to be able to increase the minimum wage to the new amount over three years. Reports suggest that the action will only be valid for future contracts instead of the existing ones. 

    "Hardworking Americans including janitors and construction workers ... will benefit from the Executive Order," the White House said. "Hardworking people who would benefit from an EO include military base workers who wash dishes, serve food, and do laundry."

    Tagged as: contract workers minimum wage, obama contract executive action, obama goals, money news, business news