News

Obama signs order boosting minimum wage

Obama signs order boosting minimum wage

MINIMUM WAGE: Obama spoke about raising the minimum wage during his State of the Union address. Photo: Reuters

WASHINGTON (Reuters) – U.S. President Barack Obama signed an executive order on Wednesday to raise the minimum wage for federal contract workers to $10.10 an hour starting next year and encouraged employers nationwide to increase wages for their workers.

Obama announced during his State of the Union address last month that he intended to take executive action to raise wages for federal contract workers.

The order will affect workers starting on January 1, 2015, and applies to new contracts and replacements for expiring contracts.

Obama, who has also pressed Congress to enact legislation to raise the minimum wage for all workers nationwide, urged business leaders and government officials to do more to increase workers’ incomes.

“I would ask any business leader out there, any governor, any mayor, any local leader listening: do what you can to raise your employees’ wages,” he said, rejecting arguments that doing so would hamper the economy.

“It’s not going to depress the economy, it’ll boost the economy,” he said.

(Reporting by Jeff Mason; Editing by Jim Loney)

Recent Headlines

4 hours ago in National

Consumers flexing their muscles

shopping

U.S. consumer spending regained momentum in January as households ramped up purchases of a variety of goods, in a hopeful sign that economic growth was picking up after slowing to a crawl at the end of 2015.

5 hours ago in Sports

Kobe to headline All-Star Sunday

22-overlay-8

Kobe Bryant has spent a career tormenting the Toronto fan base and now he is set to entertain it as the NBA's All-Star Weekend descends on Canada for the first time and welcomes Bryant for his swan song.

5 hours ago in Sports

NASCAR revises green-white-checkered finish rule

nascar

NASCAR has announced that it is shifting to an unlimited green-white-checkered finish format when late-race cautions come out.

5 hours ago in Sports

Oakland Raiders to stay put for 2016 season

carroakland

Officials for the Oakland Raiders said on Thursday that they have reached a one-year lease extension agreement, keeping the team in the San Francisco Bay Area city for the upcoming National Football League season.

5 hours ago in Sports

Arsenal to face MLS All-Star team in California in July

arsenelsanchez

English Premier League (EPL) giants Arsenal will face the best of Major League Soccer in the MLS All-Star game in San Jose, California this summer.