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)

Latest Stories

in Music

Mumford & Sons announce third album

mumford

"Wilder Mind" is due out May 4.

in Music

Taylor Swift has no plans to talk about Katy Perry

taylorswift

The "Love Story" hitmaker has vowed to never talk publicly amid rumors of a raging feud between the two singers.

in Music

New music now comes out on Fridays

music

For decades, new music releases came out on Tuesdays, but not anymore.

in Music

Drake ties Beatles chart record

drake

With more than a dozen songs on the Billboard Hot 100 chart, Drake has tied a record set in 1964.

in Entertainment

‘Focus’ reigns supreme at weekend box office

focus

Will Smith has whipped "Fifty Shades of Grey" in the box office race.