DOL Finalizes Fed. Contractor $15 Minimum Wage

By Max Kutner (November 22, 2021, 11:51 AM EST) -- The U.S. Department of Labor on Monday finalized a rule to raise the minimum wage for federal contract workers to $15 an hour, implementing an executive order by President Joe Biden that will impact hundreds of thousands of workers.

Under the rule, which is said to affect 327,000 workers, the minimum wage will be indexed to inflation every two years. (iStock) The rule, Increasing the Minimum Wage for Federal Contractors, which is expected to be published in the Federal Register on Tuesday, applies to federal contracts entered into on or after Jan. 30, 2022, or the exercise of new options based...

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