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

in National

Hyundai recalls 883K Sonatas

Fresh
hyundai

Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers.

in Sports

Nadal withdraws from Toronto, Cincinnati events

nadal

Rafa Nadal will miss two U.S. Open tune-up events due to a wrist injury, putting his status in doubt for a title defense at the year's final grand slam.

in National

Obama to Republicans: ‘Stop being mad all the time’

obama

The President took his criticism of congressional Republicans to a higher pitch on Wednesday, appealing to them to work with him to "get some work done."

in National

Sugar tax could be coming to your soda

soda

A lawmaker will launch the first national effort in years to tax soda, the latest bid to stem rising obesity and diabetes rates by curbing the consumption of sugary drinks.

in National

U.S. economy bounces back in second quarter

consumer

Economic growth accelerated more than expected in the second quarter, bolstering views for a stronger performance in the last six months of the year.