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Governor Lamont Announces Connecticut's Minimum Wage Will Increase to $15.69 in January Under Its First-Ever Economic Indicator Adjustment [[link removed]]
Posted on September 18, 2023
(HARTFORD, CT) – Governor Ned Lamont today announced that beginning on January 1, 2024, Connecticut’s minimum wage will increase from the current rate of $15.00 per hour to $15.69 per hour as a result of the state’s first-ever economic indicator adjustment.
This newly enacted adjustment is required under a state law Governor Lamont signed [[link removed]] in 2019 ( Public Act 19-4 [[link removed]]), which implemented five incremental increases in the minimum wage between 2019 and 2023, followed by future adjustments that are tied to the percentage change in the federal employment cost index. Beginning on January 1, 2024, and occurring annually each January 1 thereafter, the state’s minimum wage will be adjusted according to the U.S. Department of Labor’s calculation of the employment cost index for the twelve-month period ending on June 30 of the preceding year. The law requires the commissioner of the Connecticut Department of Labor to review this percentage change and then announce any adjustments by October 15 of each year. The minimum wage adjustments become effective on the next January 1.
Connecticut Labor Commissioner Danté Bartolomeo reports that the employment cost index increased by 4.6% over the twelve-month period ending on June 30, 2023, accounting for a $0.69 increase to the state’s minimum wage that will become effective on January 1, 2024.
Governor Lamont said, “The minimum wage for many years remained stagnant, making existing pay disparities even worse and preventing hardworking families from obtaining financial security. That is why several years ago I signed a bill into law enacting several increases in the minimum wage and then ultimately attaching it to federal economic indicators so that as the economy grows the wages of low-income workers can grow with it. This is a fair, modest increase and the money earned will be spent right back into our own economy and support local businesses.”
Lt. Governor Susan Bysiewicz said, “For too long, while the nation’s economy grew, the income of minimum wage workers stayed stagnant – worsening economic disparities. Connecticut took steps to address this problem with a fair, gradual increase for workers and brought the minimum wage to $15. Today, we mark another significant step in ensuring a fair, livable baseline of income for those who work as the state makes it’s first-ever economic indicator adjustment. We will continue to do everything we can to improve the quality of life for all the residents who call Connecticut their home.”
Commissioner Bartolomeo said, “This increase will benefit Connecticut’s 160,000 to 200,000 minimum wage workers and help offset some of the effects of national economic challenges, such as higher energy costs and interest rates. I commend Governor Lamont and the legislature for enacting this important wage reform.”
According to the Current Population Survey as calculated by the U.S. Census Bureau and the U.S. Bureau of Labor Statistics, approximately 60% of minimum wage earners in Connecticut are women.
Moving forward under this new law, Connecticut workers and employers may anticipate announcements by October 15 of each year declaring the change in the minimum wage that will become effective on January 1 of the approaching year.
Read on CT.gov [[link removed]]
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